Copper awaits the break – Analysis – 2-6-2017

Copper price repeated forming sideways trading affected by the consolidation of the initial support at 2.5500, which is supported by the moving average 55, thus, we will keep waiting to achieve the required break followed by resuming recording the negative targets by reaching 2.4800 followed by attempting to reach the main support around 2.3800.

Stochastic continues to provide the required negative momentum to resume achieving the main targets by fluctuating below 50, to agree with the main expectations for the near term and medium term period.

Expected trading range for today is between 2.6200 and 2.4800

Expected trend for today: Bearish