Copper hints the weakness – Analysis – 8-3-2018

Copper price hinted its weakness by fluctuating around the moving average 55 despite getting positive momentum through stochastic recently, which might allow the price to test the bullish channel’s support line at 3.0500 followed by monitoring the price behavior to determine the next main targets for the upcoming period.

Note that the stability of the main support line supports the continuation of the positivity for the upcoming period by providing chances to record some targets that start at 3.2500, while crawling to get negative close will confirm the surrender to the bearish bias domination and expect to suffer more losses that start at 2.9500.

Expected trading range for today is between 3.0500 and 3.2000

Expected trend for today: Fluctuated within the bullish range