Copper forms positive - analysis- 2/9/2015

Copper kept its positive stability above the support level located at 2.2500, in spite of providing some negative pressures from the indicators as appears in the above image, therefore, we will keep preferring the bullish attempts in the near period, which allows it to hit the moving avearge55 at 2.5000.

We remind you that the price decline below the previously mentioned support will cancel the positive attempts to resume its main bearish bias, there is a possibility to reach the bearish channel’s support almost at 2.0500.

Expected trading range is between 2.2500 and 2.4000

Expected trend for today: bullish if the support settled