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Wave Tech Analysis

FxPro Forex Analysis: Copper Wave Analysis – 24 July , 2018

• Copper reversed from support zone
• Likely to rise further

Copper recently reversed up from the support zone lying between the support level 270.00 (which also stopped the previous minor impulse wave 3 in the middle of July) and the lower daily Bollinger Band.

The upward reversal from this support zone started the active minor impulse wave 1 which belongs to the long-term impulse wave ①.

Given the bullish divergence on the daily Stochastic indicator – Copper is likely to rise further and re-test the next resistance level 287.60 (top of the earlier wave (iv)).

CUUUSD_ - Primary Analysis - Jul-24 1901 PM (1 day)