Copper provides negative signal – Analysis – 21-9-2017

Copper price provided new negative signal by trading below 2.9500 level, hinting keeping the correctional bearish attempts, while we expect moving towards 50% Fibonacci correction level, and the continuous negative pressure will extend trading to touch the bullish channel's support at 2.7700.

Stochastic exit from the oversold areas increases the chances of gaining the negative momentum to manage to renew the negative attack and record the mentioned targets.

Expected trading range for today is between 2.9500 and 2.8600

Expected trend for today: Bearish