- Copper broke resistance level 262.00
- Likely to rise to 275.00
Copper recently broke above the pivotal resistance level 262.00 (former resistance from February and the start of March – which also served as powerful support in November and December of 2019).
The breakout of the resistance level 262.00 coincided with the breakout of the daily up channel from April – which should accelerate the active waves C and (2).
Copper is likely to rise further toward the next resistance level 275.00 (target price for the completion of wave (2)).