Technical analysis

Copper Wave Analysis – 27 September , 2018

  • Copper reversed from resistance area
  • Copper losses are likely

Copper recently reversed down from the resistance area lying between the resistance level 285.00 (top of wave 4 from July), upper daily Bollinger Band, 100-day moving average and the 38.2% Fibonacci correction of the previous downer impulse from June.

The downward reversal from this resistance area started the active short-term corrective wave (4).

Copper is expected fall further and retest the next support level 275.00 (forecast price for the completion of the active correction (4).

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