Copper under the negative effect- analysis- 3/8/2015

Copper price provided new closes near 2.3500 level, affected by the negative pressure to keep waiting for surpassing the current level then resuming recording the previously waited targets that begin at 2.2500 reaching to the extension of the main support at 2.1200.

Stochastic returns to attempt to settle within the oversold level to increase the negative pressure, which allows the price to break the current level, confirming the attempt to reach the previously waited targets.

Expected trading range is between 2.4400 and 2.2500

Expected trend for today: bearish