Categories: Technical analysis

Copper Wave Analysis – 15 June, 2021

• Copper broke support area

• Likely to fall to support level 425.00.

Copper recently broke the support area lying between the support level 443.00 (low of the previous corrections (iv) and A), 50-day moving average and the 50% Fibonacci correction of the upward impulse from the start of April.

The breakout of this support area accelerated the active impulse wave (iii) and C.

Given the strong of the aforementioned price area, acting as resistance zone after it was broken – Copper can then be expected to fall further toward the next support level 425.00.

The FxPro News Team

This team of professional journalists announces the most interesting and influential articles from the major financial media as a brief summary. All such news may have sufficient potential to affect the course of trading assets.

Share
Published by
The FxPro News Team

Recent Posts

Bitcoin Fell Back to Local Support

Bitcoin finds support near the 50-day moving average, but further declines in the stock market…

1 hour ago

EURCHF Wave Analysis 20 December 2024

- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…

3 days ago

USDCHF Wave Analysis 20 December 2024

- USDCHF reversed from resistance zone - Likely to fall to support level 0.8860 USDCHF…

3 days ago

The US dollar ends the year on a strong note

The US dollar is at two-year highs. Factors such as changes in the Fed's monetary…

3 days ago

How deep will crypto dive?

The crypto market is experiencing a decline, with a potential further drop in value. Bitcoin…

3 days ago

EURGBP Wave Analysis 19 December 2024

- EURGBP reversed from support zone - Likely to rise to resistance level 0.8300 EURGBP…

4 days ago

This website uses cookies