Copper awaits the bullish attack start – Analysis – 16-1-2018

All factors that agree the positive stability of Copper price still valid, as the price consolidates within the bullish channel, mainly above the initial support 3.2000, besides that stochastic continues to form positive waves to ease the attempt to gather new positive momentum and wait to achieve the main targets located at 3.4400 followed by reaching 3.5700 in the upcoming period.

We should note that any attempt to crawl below the initial support will confirm postponing the bullish attempts and move to provide some correctional bearish trades to target 3.0800 followed by reaching the main bullish channel's support at 2.9800.

Expected trading range for today is between 3.2000 and 3.4400

Expected trend for today: Bullish