Copper price awaits the break – Analysis – 19-7-2018

Copper price failed to achieve the required break to 2.7000 support, to be forced to provide intraday sideways by leaning around 2.7525, while stochastic contradiction to the negative stability by forming intraday positive wave that supports the sideways fluctuation until providing new negative momentum to increase the chances of achieving the required break and open the way to record new negative targets that start at 2.6200 followed by 2.5500.

We assure the importance of the stability of 2.8500 level as a barrier against the current trades to decrease the chances of forming correctional bullish rally that might cause unexpected losses in the near term and medium term trading.

Expected trading range for today is between 2.8000 and 2.6200

Expected trend for today: Bearish