Copper Technical Analysis Report 26 July, 2021

• Copper broke resistance area
• Likely to rise to resistance level 469.75

Copper continues to rise after recently breaking through the resistance area located between the key resistance level 444.25 (top of the previous impulse wave (i), which reversed the price in May and April) and the 50% Fibonacci correction of the downward ABC correction from the start of May.

Given the strong daily uptrend and the improvement in risk sentiment as seen across the commodity markets today- Copper can be expected to rise further toward the next resistance level 469.75 (top of wave (B) from the end of May).

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