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April 05, 2021 at 04:00PM
• Copper reversed from support level 393.60
• Likely to rise to resistance level 416.30
Copper recently reversed up from the pivotal support level 393.60, which stopped the previous waves 4 and 2
The support zone near the support level 393.60 was strengthened by the intersecting lower daily Bollinger Band, 50-day moving average and the 50% Fibonacci correction of the impulse wave 5 from February.
Copper is likely to rise further toward the next resistance level 416.30 (which stopped the previous waves 1 and (b) last month).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/copper-wave-analysis-5-april-2021-20210405/
Selected by fonecable.com
Search Web: Copper Wave Analysis 5 April, 2021
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