Technical analysis

Copper Wave Analysis 11 January, 2021

Copper Wave Analysis 11 January, 2021

• Copper reversed from resistance level 370.00

• Likely to fall to 350.00

Copper recently reversed down from the resistance level 370.00 – standing near the upper daily Bollinger Band.

The downward reversal from the resistance level 370.00 will create the daily Japanese candlesticks reversal pattern Evening Star Doji – if the price closes today near the current levels.

Copper is expected to break the nearby up channel from November and fall further toward the next support level 350.00 (which stopped the previous waves 2 and (ii)).

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