Copper continues to fluctuate negatively – Analysis – 25-9-2017

Despite copper price consolidation within the bullish channel, but its stability below 3.0800 level reinforces our expectations of the correctional bearish bias domination, thus, we will keep waiting to resume the negative attempts that target 50% Fibonacci correction level at 2.8600, while facing additional negative pressures might extend trading to touch the bullish channel's support at 2.7700.

On the other hand, rallying above 3.0800 level and closing positively above it will cancel the correctional bearish overview and confirm regaining the bullish bias, to expect achieving new targets that might start at 3.3500.

Expected trading range for today is between 3.000 and 2.860

Expected trend for today: Bearish