Copper remains waiting for the momentum – Analysis – 16-2-2017

Copper price repeated its fluctuation near the support level at 2.7300, to settle in sideways range due to its neediness to the positive momentum until this moment, in general, the stability of the current support makes us wait for gathering the bullish momentum to confirm the continuation of the expected positivity that targets 2.9500 level as a main station in the near and medium period.

Note that providing any negative close below 2.7200 level will force it to form a bearish correctional bias, to suffer some losses by reaching 2.5700.

Expected trading range for today is between 2.7200 and 2.9500

Expected trend for today: bullish.