Copper recently reversed down sharply from the resistance area lying between the key resistance level 280.00 (which has been steadily reversing the price from the end of July), 38.2% Fibonacci correction of the previous downward impulse from June and the upper daily Bollinger Band.
The downward reversal from this resistance area continues of the active short-term ABC correction (ii) of the short-term impulse wave 3 from the middle of November.
Copper is expected to fall further and re-test the next support level 265.00 (low of the previous minor corrective wave 2).
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