Copper affected by an intraday negativity – Analysis – 15-2-2017

Copper price lost its bullish momentum due to stochastic surpass to the overbought level, which forces it to fluctuate near the support at 2.7200, reminding you that the bullish scenario depends on the stability of the current support until gathering the bullish momentum, to extend the trading to 2.8000 again, reaching to the main target at 2.9500.

We should mention that providing negative close below 2.7200 level will force it to form bearish correctional bias, to suffer some losses by reaching 2.5700.

Expected trading range for today is between 2.7200 and 2.9500

Expected trend for today: bullish.