August 17, 2020 at 03:51PM
• Copper broke daily down channel from
• Likely to rise to 299.00
Copper recently reversed up from the support level 280.00 (low of the (A)-wave of the previous intermediate corrective wave (2) from July).
The upward reversal from the support level 280.00 started the active medium-term impulse wave (3).
Having just broken the daily down channel from July – Copper is likely to rise further toward the next resistance level 299.00 (top of the previous sharp impulse wave (1)).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/copper-wave-analysis-17-august-2020-20200817/
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