Copper continues to fluctuate – Analysis – 1-3-2018
Economies.com
2018-03-01 07:47AM UTC
Copper price repeated the intraday negative fluctuation to touch the moving average 55 that forms the initial support around 3.1000, expecting this level to form an obstacle against the negative decline to force the price to gather new positive momentum in the near term period, to manage to regain the bullish trend and resume recording the positive targets by rallying towards 3.2500 followed by 3.3200.
On the other hand, crawling below the current support will provide good chance to provide negative pressure on the bullish channel’s support at 3.0500, to form a threat to the positive stability in the upcoming period.
Expected trading range for today is between 3.1000 and 3.2500
Expected trend for today: Fluctuated within the bullish range
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