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).
