Copper confines the positive rally- analysis- 7/9/2015

Copper failed to surpass 2.4000 level, affected by stochastic negativity to restrict the previously expected positive rally, gaining some negative momentum besides the stability of the support near 2.2500 might force the price to form intraday sideways bias before resuming the attempt of recording the waited target near 2.5000.

In general, the bullish bias will remain valid if the mentioned support settled, while providing negative trading below the previous level will cancel the positive attempts, which allows the price to begin to form bearish waves to attempt to reach the main support at 2.0500.

Expected trading range is between 2.2500 and 2.5000

Expected trend for today: bullish if the support settled