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Wave Tech Analysis

FxPro Forex Analysis: Copper Wave Analysis – 15 August , 2018

• Copper broke pivotal support level 268.00
• Further losses are likely

Copper today broke sharply below the pivotal support level 268.00, which stopped the previous sharp impulse wave 1 in July, as can be seen from the daily Copper chart below.

The breakout of the support level 1.2750 strengthened the bearish pressure on this currency pair – accelerating the active impulse wave 3 – which is a part of the medium-term impulse wave (C) from June.

Copper is expected to fall further and retest the next support level 251.50 (monthly low from June of 2017).

CUUUSD - Primary Analysis - Aug-15 1931 PM (1 day)