Copper price succeeded to get rid of the intraday sideways range’s domination by forming bullish wave, to settle above the moving average 55, approaching the first positive target at 3.2000, expecting to gather new positive momentum and surpass the current target to manage to renew the pressure on the recently recorded top at 3.3200.
Stochastic approach to 80 level eases the attempt to gather new positive momentum to agree our bullish overview for the upcoming trading, also, we assure the importance of the bullish channel’s support line stability at 3.000 to avoid any losses that might appear due to changing the main expected track.
Expected trading range for today is between 3.0800 and 3.2450
Expected trend for today: Bullish