Copper continues with the negative attempts – Analysis – 6-6-2017

Despite copper price slow move yesterday, but its main consolidation within the bearish channel allows us to continue suggesting the negative domination for the near term and medium term period, thus, we will assure the importance of holding below 2.6000 resistance and wait to gather new negative momentum to manage to reach the main targets at 2.4800 followed by 2.3800.

Stochastic fluctuation above 50 level might force the price to provide intraday sideways trading to keep waiting to gather the negative momentum again, followed by waiting to reach our targets.

Expected trading range for today is between 2.5700 and 2.4800

Expected trend for today: Bearish