Copper pushes negatively – Analysis – 27-3-2017

Copper price managed to renew the negative attempts to move towards the initial support at 2.5700, attempting to find a chance to resume the expected negative attack, while we notice the attempt to form the double top pattern to keep waiting to achieve the required break followed by extending trading towards 2.5000 and approach from the bearish channel's main support.

Stochastic attempt to settle within the oversold areas will increase the negative pressure on the current trading and increase the chances of achieving the required break by providing additional negative momentum, also, the consolidation of the moving average 55 around the bearish channel's resistance confirms blocking the price within the negative range in the upcoming trading.

Expected trading range for today is between 2.6200 and 2.5000

Expected trend for today: Bearish