September 11, 2020 at 03:21PM
• Copper reversed from support level 296.00
• Likely to rise to 309.00
Copper toward reversed up once again from the key support level 296.00 (former powerful resistance from July which also stopped the previous wave 2 at the start of September).
The support zone near the support level 296.00 was strengthened by the 38.2% Fibonacci correction of the previous upward impulse wave 1 from the start of August.
Copper is likely to rise further toward the next resistance level 309.00 (top of the previous minor impulse wave 1).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/copper-wave-analysis-11-september-2020-20200911/
Selected by fonecable.com
Search Web: Copper Wave Analysis – 11 September, 2020
Recent Posts
- Crude Oil Over Crypto
- US Dollar Price Action Setups pre-CPI: EUR/USD, GBP/USD, USD/JPY
- Cathie Wood & Ark: Insiders Aren’t Buying the Hype
- Breaking News: ECB Holds Rates, Setting up July and September for Fireworks
- Currency Carry Trade: What is it and how does it work?
