Copper fluctuates within the bullish range – Analysis – 2-8-2017

Copper price was forced to form intraday negative rebound yesterday attempting to gather new positive momentum to confirm the continuation of the positive domination, while trading might extend to test 2.7750 that forms the initial support, waiting to rally towards 2.9500 followed by reaching the next target at 3.1000.

Stochastic fluctuation within the overbought areas forms the major factor to form the current intraday rebound, but that increases the chances of gaining additional momentum to manage to resume recording the expected targets.

Expected trading range for today is between 2.7750 and 2.9500

Expected trend for today: Bullish