September 11, 2020 at 03:21PM
• Copper reversed from support level 296.00
• Likely to rise to 309.00
Copper toward reversed up once again from the key support level 296.00 (former powerful resistance from July which also stopped the previous wave 2 at the start of September).
The support zone near the support level 296.00 was strengthened by the 38.2% Fibonacci correction of the previous upward impulse wave 1 from the start of August.
Copper is likely to rise further toward the next resistance level 309.00 (top of the previous minor impulse wave 1).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/copper-wave-analysis-11-september-2020-20200911/
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