Copper Wave Analysis – 23 January, 2020
January 23, 2020 @ 19:23 +03:00
- Copper broke key support level 275.00
- Likely to fall to 270.00
Copper under bearish pressure after the earlier breakout of the key support level 275.00 (which stopped the previous short-term correction (iv) at the start of January).
The breakout of the support level 275.00 should accelerate the active medium-term impulse wave (3) – which started earlier from the major resistance level 285.00.
Copper is likely to fall further toward the next support level 270.00 (former strong resistance from September and November).