Copper Wave Analysis 24 September, 2020

• Copper broke support zone

• Likely to fall to 290.00

Copper recently broke the support area located between the support level 296.00 (which former the daily Bullish Engulfing and Piercing Line earlier this month) and the 38.2% Fibonacci retracement of the previous upward impulse from August.

The breakout of this support zone accelerated the active short-term correction 2.

Copper is expected to fall further toward the next support level 290.00 (projected price for the termination of the active correction 2) – from where the price is likely to correct up.