- Copper reversed from resistance area
- Likely to fall to 205.00
Copper recently reversed down from the resistance area lying between the key resistance level 223.00 (which has been reversing the price from the middle of March) and the 38.2% Fibonacci correction of the previous sharp impulse wave (c).
The downward reversal from this resistance area started the active short-term correction (b).
Copper is likely to fall further toward the next round support level 205.00 (target price for the completion of the active wave (b)).