Copper continues to suffer losses – Analysis – 20-4-2017

Copper price continued providing negative trading suffering several losses by reaching the first negative target at 2.5000, the continuation of the pressure that comes from the main indicators makes us prefer more of the bearish attempts to attempt to hit the second target at 2.4300 to test 50 Fibonacci correction level.

Stochastic attraction to 20 level forms main factor that increases the negative pressure and provides extra negative momentum that assists to attempt to achieve the next target.

Expected trading range for today is between 2.550 and 2.4300

Expected trend for today: bearish.