Copper Wave Analysis – 06 August, 2019

Copper reversed from long-term support level 255.00
Further gains are likely

Copper today reversed up strongly from the long-term support level 255.00 – which has been reversing the price from last August .

The support area near the support level 255.00 was strengthened by the lower daily Bollinger Band.

Copper is expected to rise further and retest the next resistance level 260.00 (former monthly low from the middle of June).

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.

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