Copper postpones the negativity – Analysis – 25-5-2017
Economies.com
2017-05-25 07:19AM UTC
Copper price still stable above the moving average 55 that forms initial support at 2.5300, to postpone the negative attempts for now, while the price might be forced to test 2.6200 resistance until gathering the negative momentum followed by renewing the negative attack to break the initial support followed by managing to reach the waited negative targets at 2.4800 and 2.4000.
The consolidation of stochastic within the overbought areas supports the intraday sideways fluctuation, to renew the positive pressure on the current trading, which increases the chances of the price move towards the mentioned resistance.
Expected trading range for today is between 2.6200 and 2.4800
Expected trend for today: Fluctuated within the bearish range
Commodities News
Commodities
Brent climbs 1.25% after Saudi crude price hike
2024-05-06 14:34PM UTC
International benchmark Brent rose 1.25% in the early American trade on track for the first profit ...
Commodities
Gold recovers as dollar loses ground
2024-05-06 09:32AM UTC
Gold prices rose in European trade on Monday for the first session in three days away from ...
Commodities
Oil prices reverse lower, with US crude slumping 7% this week
2024-05-03 19:36PM UTC
Oil prices fell on Friday to seven-week lows amid concerns about oversupplies after an unexpected ...
Commodities Technical Analysis
Commodities
Coffee price collapses – Forecast today – 7-5-2024
2024-05-07 05:38AM UTC
Expected Scenarios and Trading Range Scenario 1: Strong Negative Pressure Coffee price fails ...
Commodities
Natural gas price needs to confirm the breach – Forecast today – 7-5-2024
2024-05-07 05:37AM UTC
Expected Scenarios and Trading Range Scenario 1: Attempted Breakout Natural gas price ...
Commodities
Platinum price leans above the moving average – Forecast today – 7-5-2024
2024-05-07 05:31AM UTC
Expected Scenarios and Trading Range Scenario 1: Positive Stability Platinum price maintains ...