Copper builds minor bullish channel – Analysis – 17-2-2017

Copper price formed minor bullish channel to that its support line located at 2.6500, to consolidate within the bullish range until this moment, while we should note that the price fluctuation below 2.7200 might hold the bullish rally to keep waiting to gather new positive momentum and attempt to resume the bullish attack until achieving the waited target at 2.9500.

Stochastic attempts to build new bullish wave to confirm getting rid of the negative pressure and allow the price to gain new positive momentum until reaching the waited targets.

Expected trading range for today is between 2.6500 and 2.8000

Expected trend for today: Bullish