Copper Wave Analysis – 24 July , 2018

• Copper reversed from support zone • Likely to rise further Copper recently reversed up from the support zone lying between the support level 270.00 (which also stopped the previous minor impulse wave 3 in the middle of July) and the lower daily Bollinger Band. The upward reversal from this support zone started the active minor impulse wave 1 which belongs to the long-term impulse wave ①. Given the bullish divergence on the daily Stochastic indicator – Copper is likely to rise further and re-test the next resistance level 287.60 (top of the earlier wave (iv)).