Copper awaits to achieve the target – Analysis – 7/7/2015

Copper price showed negative closing below 2.5500 level affected by the negativity of the major indicators, represented by the moving average 55 stability around the main resistance, and stochastic reach to 20 level as appears on chart.

Therefore, the negative overview will remain valid, waiting to reach our target at 2.4000, while we recommend monitoring the price behavior when reaching the targeted level due to its importance to detect the next targets.

Expected trading range for today is between 2.6100 and 2.4000

Expected trend for today: Bearish