Wave Tech Analysis

FxPro Forex Analysis: Copper Wave Analysis – 30 August , 2018

• Copper reversed from resistance zone
• Further losses are likely

Copper recently reversed down from the resistance zone lying between the key resistance level 272.30, 50% Fibonacci correction of the previous downward impulse (i) and the resistance trendline of the daily down channel from June.

The downward reversal from this resistance zone started the active short-term impulse wave (iii) which belongs to the medium-term impulse wave (C) from June.

Copper is expected to fall further and retest the next round support level 261.00 (low of the hammer from last week).

CUUUSD - Primary Analysis - Aug-30 1856 PM (1 day)