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Wave Tech Analysis

FxPro Forex Analysis: Copper Wave Analysis – 16 July , 2018

• Copper reversed from resistance zone
• Likely to fall further

Copper today reversed down from the resistance area located between the pivotal resistance level 2.7940 (former strong support from the start of July) and the 50% Fibonacci correction of the previous downward impulse 3.

The downward reversal from this resistance zone started the active minor impulse wave 5 – which belongs to wave (3) from June.

Copper is likely to fall further and re-test the next strong support level 2.710 (low of the previous minor impulse wave 3).

CUUUSD - Primary Analysis - Jul-16 1313 PM (1 day)