Technical analysis

Copper Wave Analysis – 15 June, 2020

Copper Wave Analysis – 15 June, 2020

• Copper reversed from resistance zone

• Likely to fall to 250.00

Copper recently reversed down from the resistance area lying between the pivotal resistance level 262.00 (former monthly high from February and March), upper daily Bollinger Band and the resistance trendline of the daily up channel from April.

The downward reversal from this resistance zone stopped the earlier medium-term corrective wave (2).

Copper is likely to fall further toward the next support level 250.00 (former minor resistance from the start of June).

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