Copper settles negatively – Analysis – 6-3-2017

Economies.com
2017-03-06 09:20AM UTC

Copper price affected by the moving average 55 negativity, to move away from the resistance at 2.7500 for today, to confirm the continuation of the negative attempts in the near and medium period, therefore, we will keep waiting until surpassing the obstacle at 2.6500, opening the way towards recording more of the negative targets, which might extend to 2.5700 first reaching to 2.4300 level in the upcoming period.

 

The intraday sideways trading caused by stochastic rally above 50 level opens the way towards gathering new negative momentum by its fluctuation within the negative range, which increases the possibility for reaching the targets in the near period.

 

Expected trading range for today is between 2.7000 and 2.5700

 

Expected trend for today: bearish.

Commodities News

Brent Oil News

Commodities

Brent climbs 1.25% after Saudi crude price hike
2024-05-06 14:34PM UTC
International benchmark Brent rose 1.25% in the early American trade on track for the first profit ...
Gold News

Commodities

Gold recovers as dollar loses ground
2024-05-06 09:32AM UTC
Gold prices rose in European trade on Monday for the first session in three days away from ...
Oil News

Commodities

Oil prices reverse lower, with US crude slumping 7% this week
2024-05-03 19:36PM UTC
Oil prices fell on Friday to seven-week lows amid concerns about oversupplies after an unexpected ...

Commodities Technical Analysis

Brent oil Analysis

Commodities

Brent oil price forecast update 06-05-2024
2024-05-06 11:08AM UTC
Brent Oil Price Analysis Brent oil price is affected by stochastic positivity, trading ...
Oil Analysis

Commodities

Crude oil price forecast update 06-05-2024
2024-05-06 11:08AM UTC
Crude Oil Price Analysis Crude oil price fluctuates positively to approach testing the key ...
Silver Analysis

Commodities

Silver price forecast update 06-05-2024
2024-05-06 11:08AM UTC
Silver Price Analysis Silver price breached the 26.90$ level clearly and closed the last four ...