Technical analysis

Copper Wave Analysis – 25 August, 2020

Copper Wave Analysis – 25 August, 2020

• Copper reversed from multi-month resistance level 300.00

• Likely to fall to 287.00

Copper recently reversed down from the key multi-month resistance level 300.00 (which has been reversing the price from the start of 2019, as can be seen below).

The resistance zone near the resistance level 300.00 was further strengthened by the upper daily Bollinger Band.

Copper is likely to fall further toward the next support level 287.00 (former strong resistance from the start of 2020).

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