Copper price provided positive signal yesterday, affected by stochastic rally above 50 level to settle near 61.8% Fibonacci level, but regaining the bullish attempts require surpassing the barrier at 3.1500, opening the way towards recording several positive targets that begin at 3.2500 reaching to 3.4500.
Therefore, the stability of the price below the barrier makes us keep our bearish correctional expectation in the near period, targeting mainly the bullish channel’s support at 2.9000.
Expected trading range for today is between 3.1500 and 2.9000
Expected trend for today: Bearish