- Copper reversed from support area
- Likely to rise to 256.00
Copper recently reversed up sharply from the support area lying between the lower weekly Bollinger Band and the strong support levels 252.00 and 250.00.
The upward reversal from this support area stopped the earlier intermediate impulse sequence (3) from the start of January.
Given the oversold weekly Stochastic – Copper is likely to rise further toward the next resistance level 256.00.