Technical analysis

Copper Wave Analysis 25 March, 2021

Copper Wave Analysis 25 March, 2021

• Copper broke support zone

• Likely to reach support level 390.00

Copper recently broke the support zone lying between support level 401.4 (low of the previous minor correction (a)) and the 50% Fibonacci retracement of the upward impulse from the start of February.

The breakout of this support zone accelerated the active minor impulse wave (c).

Copper is likely to fall further toward the next support level 390.00 (50-day moving average, target for the completion of the active impulse wave (c); this level stopped previous wave (4)).

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