- Copper reversed from resistance area
- Further losses are likely
Copper recently reversed down from the resistance area lying between the key resistance level 264.00 (former monthly high from April), upper daily Bollinger Band, 100-day moving average and the 50% Fibonacci correction of the previous downward impulse from July.
The downward reversal from this the resistance area started the active short-term impulse wave 3 – which belongs to the medium-term impulse wave (3) from July.
Copper is expected to fall further and retest the next support level 257.50 (former resistance from August).
This Review is presented by FxPro.
For all Articles related to Fxpro please click here