Copper begins the decline – Analysis – 19-4-2017

In spite of the continuation of the contradiction between the main indicators but providing negative trading supports the bearish expectation, targeting 2.5000 level reaching to 38.2% Fibonacci correction level, reminding you that the stability of the resistance at 2.6000 is important to confirm the price confinement within the bearish range until achieving the waited targets.

While stochastic stability below 50 level will open the way towards gathering new negative momentum to confirm the attempt to resume the decline, accompanied with the negativity of the moving average 55 below the mentioned resistance.

Expected trading range for today is between 2.6000 and 2.5000

Expected trend for today: bearish.