Copper keeps the positivity – Analysis – 23-4-2018

Copper price confirmed the continuation of the bullish attempts by providing new positive close above the moving average 55, to keep its stability within the bullish channel levels, therefore, we will keep waiting for gathering new positive momentum that allows it to achieve the main targets at 3.2400 reaching to the achieved top at 3.3200.

The continuation of forming an initial support by the stability of the moving average 55 at 3.1000 shrinks the possibility of changing the trend and threatens the main support at 3.000, and stochastic reach above 50 level opens the way for gaining the required momentum to achieve the waited targets.

Expected trading range for today is between 3.1000 and 3.2400

Expected trend for today: Bullish