Copper price may be falling into an area of support defined by t

• 38.2 fib reaction finds at (Jan 2016 low-June 2018 high) 2.8000
• 100MA (weekly) finds at 2.7910
• 500MA (Daily) finds at 2.7830
• 161.8fe (A-B-C corrective structure) pointing 2.7620
• The daily RSI study has been extremely oversold
• Overall between 2.8000-2.7620 offers very near-term support zone

For now, we view a decent bounce to 2.89 and 2.94 in the very near term.

What if the price falls to hold?

We could expect further retracement to 2.6270 its 200MA (weekly) which coincides with the 50.0% fib reaction and 2.5000 its 50MA (monthly) and finally the 61.8% fib reaction 2.4640.