Copper affected by the indicators' contradiction – Analysis – 18-1-2018

Copper price continued to provide sideways trades due to the contradiction of the major indicators, as stochastic attempts to crawl towards 20 level, while the moving average 55 keeps its consolidation below the current price, but the stability of the initial support at 3.2000 supports the bullish attempts until this moment, waiting to achieve the main targets at 3.4400 followed by 3.5700.

We continue to remind you that any attempt to crawl below the initial support will confirm postponing the bullish attempts, to be forced to provide some correctional bearish trading and 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