Copper chooses the positive range – Analysis – 5-1-2017

Copper price ended its sideways fluctuation by attacking the sideways range’s resistance at 2.5700, attempting to form a bullish rally to begin to build a new bullish bias as appears in the above image, we recommend waiting until providing positive close above the current resistance that confirms the affection by the bullish domination, then wait until reaching the previously recorded top at 2.7300.

The main indicators agree to support the bullish attempts, to notice the stability of the moving average 55 below the support at 2.4200, while stochastic attempts to provide extra momentum by approaching from the overbought level.

Expected trading range for today is between 2.5500 and 2.7300

Expected trend for today: bullish