(MENAFN- FxPro)
- Copper reversed from resistance area
- Further losses are likely
Copper recently reversed down from the resistance area lying between the key resistance level 264.00 (former monthly high from April), upper daily Bollinger Band, 100-day moving average and the 50% Fibonacci correction of the previous downward impulse from July.
The downward reversal from this the resistance area started the active short-term impulse wave 3 – which belongs to the medium-term impulse wave (3) from July.
Copper is expected to fall further and retest the next support level 257.50 (former resistance from August).
MENAFN1109201901560000ID1098990765
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.