Copper attempts to gain new momentum – Analysis – 11-1-2018.

Copper price begun to renew the attempts to gain positive momentum due to stochastic surpass to the overbought level, to keep its stability above the support at 3.2000, which supports the beginning of forming new bullish attack that allows it to reach 3.4400 and 3.5500.

Note that the price decline below the initial support will delay the bullish overview, which forces it to build bearish correctional bias to reach 3.0800 initially, reaching to the bullish channel support at 2.9600.

Expected trading range for today is between 3.2000 and 3.4400

Expected trend for today: Bullish