Copper has seen a strong rally since the March 16 bottom at 1.9725 and should move a little higher towards the expected target for wave 1 at 3.9535 before a more sizable correction lower to near 3.0000.
Ultimately the rally in wave C should break above the 2011 high at 4.6495.
A break below support at 3,6264 will be the first warning that copper has topped and the expected larger correction is ready to unfold.
If you are long copper it’s time to tighten your stops and consider taking some profit near 3.9535
The material has been provided by InstaForex Company – www.instaforex.com
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