Copper affected by stochastic positivity- analysis- 28/4/2015

Copper formed a new bullish wave, affected by the positive momentum that came from stochastic yesterday to settle near 2.7500, to keep its stability above the support level at 2.6600, therefore, the price will remain affected by the sideways range due to its stability within the bearish channel and the contradiction between the main indicators by providing the bullish momentum.

Therefore, the sideways trading remains the dominant on the current move if the previous support settled and the resistance at 2.8500, until the price gets rid of one of these levels, we remind you that breaking the support level will force the price to suffer more losses by reaching 2.5000 and 2.3500 level, while surpassing the resistance will cancel the negative attempts, which allows the price begin to record some targets starting at 2.8900.

Expected trading range is between 2.8500 and 2.6500.

Expected trend for today: sideways