• Copper broke key resistance level 435.40
• Likely to rise to resistance level 460.00
Copper continues to rise inside the accelerated upward impulse wave 3 – which previously broke the key resistance level 435.40 (previous buy target and the top of the previous minor impulse wave 1 from the end of February). The breakout of the resistance level 435.40 accelerate the active minor impulse wave 3 of the intermediate impulse sequence (5) from the end of January.
Given the strong daily uptrend and the improvement in risk sentiment seen across the commodities markets today – Copper can be expected to rise further toward the next resistance level 460.00 (target price for the completion of the active intermediate impulse sequence (5)).
