Copper suffers the support line stability – Analysis – 31-5-2016

There is no news for copper price by its repeated stability around 2.1000, to keep the suggested negativity by its stability below the moving average besides the stability of the bearish channel’s resistance that located at 2.2300; we wait for forming new negative attack to keep preferring reaching the targets that located at 2.000 and 1.9200.

Stochastic decline from the overbought level opens the way towards gathering new negative momentum, to reinforce the negative pressure in the upcoming trading.

Expected trading range for today is between 2.1450 and 2.000.

Expected trend for today: bearish.