Technical analysis

Copper Wave Analysis 19 May, 2021

• Copper reversed from the resistance zone

• Likely to fall to support level 443.75

Copper recently reversed down from the resistance zone located between the resistance level 480.00 and the upper daily Bollinger Band.

The downward reversal from the resistance zone created the daily candlesticks reversal pattern Shooting Star – which started the active impulse wave (c).

Copper is likely to fall further toward the next support level 443.75 (low of the previous correction (v) from April and the target for the completion of the active wave (iv)).

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