Copper price touches the first target – Analysis – 5-7-2018
Economies.com
2018-07-05 07:23AM UTC
Copper price trades extended bearishly to touch 2.8500 level that formed the first main target, to press on 38.2% Fibonacci correction level, while the price might be forced to show some sideways trading until breaking this level followed by waiting to move towards the second main target at 2.7500.
Stochastic decline towards the oversold areas confirms gathering new negative momentum to increase the chances of breaking the current obstacle and resume the bearish attack.
Expected trading range for today is between 2.9100 and 2.7500
Expected trend for today: Bearish
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