Copper awaits the release – Analysis – 14-8-2017

Copper price still within narrow range since Friday, affected by the stability of 2.8700 support, and finds good obstacle at 2.9500 against the bullish rally, while the sideways trading is caused by the contradiction of stochastic with the stability of the price within the bullish channel, to notice the consolidation below 50 level, confirming the continuation of sideways trading now.

We remind you that breaking the current support will force the price to provide correctional bearish trading to move towards 2.7200, while surpassing 2.9500 will reinforce the positive domination and open the way to record more targets that start at 3.1000.

Expected trading range for today is between 2.8700 and 2.9500

Expected trend for today: Sideways