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November 06, 2020 at 03:48PM
• Copper reversed from support level 302.30
• Likely to rise to 321.50
Copper continues to rise inside the medium-term impulse wave (3) , which started earlier from the support level 302.30 standing close to the 50% Fibonacci correction of the previous wave (1).
The upward reversal from the support level 302.30 created the tall daily Hammer – which highlights the strength of the support level 302.30.
Copper is likely to rise further toward the next resistance level 321.50 (top of the previous medium-term impulse wave (1)).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/copper-analysis-06-november-2020-20201106/
Selected by fonecable.com
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