Copper awaits additional momentum – Analysis – 18-1-2017

Economies.com
2017-01-18 08:39AM UTC

Copper price repeated its fluctuation yesterday affected by stochastic decline towards 20 level, but the stability of 2.5700 support forms main factor to suggest the bullish attempts for the upcoming period, thus, we will keep waiting to gather new positive momentum and repeat the pressure on 2.7300 barrier followed by waiting to surpass this level to extend trading towards more targets that start at 2.8500.

 

Note that attempting to decline below the current support will postpone the bullish overview and move to form intraday bearish bias to test the moving average 55 around 2.4300.

 

Expected trading range for today is between 2.5700 and 2.7300

 

Expected trend for today: Bullish

Commodities News

Brent Oil News

Commodities

Brent climbs 1.25% after Saudi crude price hike
2024-05-06 14:34PM UTC
International benchmark Brent rose 1.25% in the early American trade on track for the first profit ...
Gold News

Commodities

Gold recovers as dollar loses ground
2024-05-06 09:32AM UTC
Gold prices rose in European trade on Monday for the first session in three days away from ...
Oil News

Commodities

Oil prices reverse lower, with US crude slumping 7% this week
2024-05-03 19:36PM UTC
Oil prices fell on Friday to seven-week lows amid concerns about oversupplies after an unexpected ...

Commodities Technical Analysis

Brent oil Analysis

Commodities

Brent oil price forecast update 06-05-2024
2024-05-06 11:08AM UTC
Brent Oil Price Analysis Brent oil price is affected by stochastic positivity, trading ...
Oil Analysis

Commodities

Crude oil price forecast update 06-05-2024
2024-05-06 11:08AM UTC
Crude Oil Price Analysis Crude oil price fluctuates positively to approach testing the key ...
Silver Analysis

Commodities

Silver price forecast update 06-05-2024
2024-05-06 11:08AM UTC
Silver Price Analysis Silver price breached the 26.90$ level clearly and closed the last four ...