Categories: Technical analysis

Copper Wave Analysis – 03 February, 2020

  • Copper reversed from support area
  • Likely to rise to 256.00

Copper recently reversed up sharply from the support area lying between the lower weekly Bollinger Band and the strong support levels 252.00 and 250.00.

The upward reversal from this support area stopped the earlier intermediate impulse sequence (3) from the start of January.

Given the oversold weekly Stochastic – Copper is likely to rise further toward the next resistance level 256.00.

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

Share
Published by
The FxPro Tech Analysis Team
Tags: CUUUSD

Recent Posts

Solana Wave Analysis – 18 March 2025

Solana: ⬇️ Sell - Solana reversed from the resistance zone - Likely to fall to…

1 hour ago

CHFJPY Wave Analysis – 18 March 2025

CHFJPY: ⬆️ Buy - CHFJPY broke resistance zone - Likely to rise to resistance level…

1 hour ago

The crypto market is stuck in the mud

Market Picture The crypto market has been hovering in a narrow range for the past…

6 hours ago

FTSE 100 Wave Analysis – 17 March 2025

FTSE 100: ⬆️ Buy - FTSE 100 reversed from key support level 8425.00 - Likely…

22 hours ago

Alibaba Wave Analysis – 17 March 2025

Alibaba: ⬆️ Buy - Alibaba broke the key resistance level 145.00 - Likely to rise…

22 hours ago

EURNZD Wave Analysis – 17 March 2025

EURNZD: ⬇️ Sell - EURNZD reversed from long-term resistance level 1.9160 - Likely to fall…

1 day ago

This website uses cookies