Copper awaits the break – Analysis – 26-5-2017

Copper price couldn’t record any new negative target until this moment, affected by the stability of the moving average 55 near 2.5400 level, which decelerates the waited negative attack, we expect the price affection by the sideways bias domination in the near period until achieving the required break and reaching the main targets at 2.4800 and 2.4000.

Note that the price attempt to breach the minor bearish channel’s resistance at 2.6200 so that will confirm delaying the negative attack in the near and medium period, to expect forming bullish rally until hitting the extension of the main resistance at 2.7800.

Expected trading range for today is between 2.6200 and 2.4800

Expected trend for today: Fluctuated within the bearish range