Copper resumes the negativity – Analysis – 6/7/2015

Copper price succeeded to get the negative momentum during this morning to exit the sideways range and resume the bearish attempts by reaching 2.5500 level, and that confirms the continuation of the bearish overview for the medium term basis, opening the way to touch 2.4000 bottom areas.

Stochastic settles below 50 level, offering more bearish momentum that supports our negative expectations, accompanied by the moving average negativity settling around the bearish channel’s resistance as appears on chart.

Expected trading range for today is between 2.6100 and 2.4000

Expected trend for today: Bearish