Copper attempts to settle within the bullish range– Analysis – 5-3-2018

Copper price continues to resist the negativity of the indicators by providing repeated positive closes above the main bullish channel’s support at 3.0500, confirming the continuation of the bullish bias domination, therefore, we will keep our bullish suggestion, to expect renewing its attack by gaining the bullish momentum, targeting 3.2500 and 3.3200 level.

Stochastic reach to the oversold level, compared with the price stability above the main support confirms surpassing the negative pressures, to renew the attempts of gaining the required bullish momentum to achieve the mentioned targets.

Expected trading range for today is between 3.0500 and 3.2500

Expected trend for today: Bullish