- Copper broke resistance area
- Likely to rise to 240.00
Copper recently broke through the resistance area lying between the key resistance level 225.00 and the 38.2% Fibonacci retracement of the previous downward impulse (i) from the start of March.
The breakout of this resistance area accelerated the active short-term impulse wave (i) – which belongs to the sharp wave B from last month.
Copper is likely to rise further toward the next resistance level 240.00 (target price for the completion of the active impulse wave (i)).