Copper price keeps the negativity – Analysis – 2-7-2018

Despite Copper price recent effect by the sideways bias domination, its continuous negative closings below 3.0850 resistance confirms the continuation of the negativity for the upcoming trading, thus, we assure the importance of gathering new negative momentum to manage to resume achieving the negative targets around 2.8500 followed by 2.7000.

Stochastic exit from the oversold areas confirms the preparation to provide additional negative momentum in the near term period conditioned by the price stability below the mentioned resistance line, to increase the chances of reaching the suggested targets.

Expected trading range for today is between 3.0300 and 2.8500

Expected trend for today: Bearish