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
- S&P 500 Holds Losses Despite Pullback in Short-Term Consumer Inflation Expectations
- Gold Price Forecast: Gold Threatens Larger Break, 1854 Support in Sight
- Markets Week Ahead: Dow Jones, US Dollar, Gold, Euro, Fed, CPI, China
- S&P 500 Outlook: Equities Drop Ahead of Peloton, Disney and Alibaba Earnings
- USD/JPY Forecast – Setting Up for the Next Leg Higher?
