Categories: Technical analysis

Copper Wave Analysis – 17 August, 2020

• Copper broke daily down channel from

• Likely to rise to 299.00

Copper recently reversed up from the support level 280.00 (low of the (A)-wave of the previous intermediate corrective wave (2) from July).

The upward reversal from the support level 280.00 started the active medium-term impulse wave (3).

Having just broken the daily down channel from July – Copper is likely to rise further toward the next resistance level 299.00 (top of the previous sharp impulse wave (1)).

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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