Copper Wave Analysis – 21 September , 2018

CUUUSD - Primary Analysis - Sep-21 1443 PM (1 day)

• Copper broke resistance zone
• Further gains are likely

Copper continues to rise after the earlier breakout of the resistance zone lying between the resistance level 272.00, 50-day moving average and the 50% Fibonacci correction of the previous sharp downward impulse 5 from July.

The breakout of this resistance zone accelerated the active short-term impulse wave 3, which belongs to the medium-term impulse wave (3) from the start of September.

Copper is expected to rise further and retest the next resistance level 285.00 (top of the previous minor correction 4 from the end of July).


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