Copper breaks the support – Analysis - 24-02-2017

Copper price achieved a break to the bullish channel’s support and settled below it, which puts the price under negative pressure that we expected to push the price to test 2.5700 level before it returns to rise again.

The positivity that comes from stochastic encourages us to prefer the bullish trend generally, and its continuation conditioned by breaching 2.7270 level besides the stability above 2.5700 level, reminding you that our main targets begin at 2.8000 and extend to 2.9000.

Expected trading range for today is between 2.5700 and 2.8000

Expected trend for today: Bullish