Copper price keeps the positive correction – Analysis – 10-7-2018

Copper price repeated the fluctuation above 2.7700 level to keep suggesting the correctional bullish attempts for the near term period, while stochastic provides the positive momentum by exiting the oversold areas to increase the chances of moving towards the correctional target at 2.9500, followed by monitoring the price behavior to determine the upcoming main trend.

We should note that attempting to decline below 2.7700 will push the price back to the main bearish bias, expecting to prepare to record more negative levels that start at 2.7000 followed by 2.5500.

Expected trading range for today is between 2.8000 and 2.9500

Expected trend for today: Bullish temporarily