• 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.
- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…
- USDCHF reversed from resistance zone - Likely to fall to support level 0.8860 USDCHF…
The US dollar is at two-year highs. Factors such as changes in the Fed's monetary…
The crypto market is experiencing a decline, with a potential further drop in value. Bitcoin…
- EURGBP reversed from support zone - Likely to rise to resistance level 0.8300 EURGBP…
- EURJPY broke resistance zone - Likely to rise to resistance level 165.00 EURJPY currency…
This website uses cookies