• Copper broke support level 2.8000
• Likely to fall further
Copper continues to fall after the earlier breakout of the support level 2.8000, which reversed the previous sharp minor impulse wave 1 with the daily Hammer at the start of July.
The breakout of the support level 2.8000 strengthened the bearish pressure on this currency pair – accelerating the active medium-term impulse wave (3) from the start of June.
Copper is likely to fall further and re-test the next support level 2.7000 (forecast price calculated for completion of the active impulse wave (3)).