• Copper broke resistance zone • Further gains are likely
Copper recently broke the resistance zone located between the key resistance level 3.180 (which has been steadily reversing the price from the start of March) and the 61.8% Fibonacci correction of the previous downward correction from the end of December.
The breakout of this resistance strengthened the bullish pressure on Copper – accelerating the active medium-term impulse wave (3) from the end of May.
With the accelerating daily Momentum, Copper is expected to re-test the next prominent resistance level 3.2660 (which reversed the price numerous times from January).
- Nasdaq 100 reversed from strong support level 21000.00 - Likely to rise to resistance…
- USDJPY reversed from key support level 156.35 - Likely to rise to resistance level…
The recent declines in US indices may have broken the bullish trend, indicated by technical…
The dollar has paused its strengthening, as weaker-than-expected inflation data reduces fear of future Fed…
Bitcoin finds support near the 50-day moving average, but further declines in the stock market…
- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…
This website uses cookies