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Copper Wave Analysis – 22 July, 2019

  • Copper reversed from resistance area
  • Further losses are likely

Copper recently reversed down from the resistance area lying between the resistance level 275.00, upper daily Bollinger Band and the 38.2% Fibonacci correction of the previous ABC correction (2) from April.

The downward reversal from this resistance area stopped the earlier impulse wave 3.

Copper is expected to fall further and retest the next support 267.00 (low of the previous wave (ii) from the middle of July).

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Source: FxPro


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