Copper still negative – Analysis – 15-3-2017

Copper didn’t provide any new until this morning, but its stability below the neckline of the double top pattern supports the continuation of the negativity in the near and medium period, therefore, the will keep depending on the stability of 2.6300 level that supported by the moving average 55 fluctuation near it, to wait until gathering the negative momentum and begin to record the waited targets at 2.5000 and 2.4300.

Note that the price attempt to rally above the moving average 55 level and providing positive close will cancel the negative overview, which forces it to build bullish attack that might forces it to reach 2.7300.

Expected trading range for today is between 2.6300 and 2.5000

Expected trend for today: Bearish