Copper repeats the fluctuation below the resistance – Analysis – 25-4-2017

Copper price continues to fluctuate below the main resistance represented by 2.6000 level, affected by the contradiction of the main indicators until this moment, while we remind you that the bearish scenario will remain valid as long as the mentioned resistance remains intact, waiting to form the negative attack again to manage to reach the negative targets by reaching 2.4300 followed by 2.3100.

Stochastic approach from the overbought areas might block the negative attempts now, but that supports getting rid of the negative pressure and allows the price to start gathering the negative momentum to confirm the continuation of the negativity for the upcoming trading.

Expected trading range for today is between 2.6000 and 2.4300

Expected trend for today: Bearish