Copper continues with the positive correction – Analysis – 12-6-2017

Copper price confirmed its affected by the bullish correctional bias by providing new positive close above 2.5800 level, which forms the extensions of the current support as appears in the above image, therefore, we will keep waiting for recording more of the targets by reaching 2.6750 level and surpassing it will extend the trading to test the main resistance at 2.7680.

The stability of the moving average 55 below the price trading confirms the price confinement within the bullish range, also stochastic surpass to the overbought level increases the chances for gathering the required momentum to achieve the suggested targets.

Expected trading range for today is between 2.5800 and 2.6750

Expected trend for today: Bullish