Copper prepares to renew the negativity – Analysis – 7-6-2017

Copper price kept its negative stability below the moving average 55 to confirm keeping the bearish bias domination until this moment, while we remind you that the stability of the main resistance at 2.6000 supports our bearish overview, to expect starting to target the negative levels that begin at 2.4800 followed by reaching the bearish channel's support at 2.3800.

Stochastic approach from the overbought areas confirms getting rid of the positive pressures to allow it to gather the negative momentum again, and eases the attempt to record the previously recorded targets.

Expected trading range for today is between 2.5700 and 2.4800

Expected trend for today: Bearish