Copper price continues to fluctuate negatively – Analysis – 13-7-2018

Copper price did not affect by the results of the sideways bias domination, to keep the negative stability below 38.2% Fibonacci correction level at 2.8500, expecting to gather additional negative momentum to renew the pressure on 2.7000 support line, while breaking this barrier will extend trades to record new negative targets that might start at 2.6200 followed by 2.5500.

Stochastic attempt to form new negative wave reinforces the negative overview and provides the price with additional momentum to increase the chances of achieving the required break followed by reaching our targets.

Expected trading range for today is between 2.8200 and 2.7000

Expected trend for today: Bearish