Copper is already sharply and impulsively recovering and we see it in the middle of bullish wave 3 after broken base channel resistance line. After recent drop and a retest of that base channel upper line, it can easily act as a support for wave 4. So, with current rally, be aware of a bullish continuation within wave 5 of (3) with room up to 4.5 – 4.6 area.
On the date of publication, Gregor Horvat did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.