Copper delays the positivity – Analysis – 13-4-2017

Copper price suffered sudden negative pressures to end yesterday’s trading by providing negative close below 2.5700 level, to delay the bullish attempts, which forces it to provide negative fluctuation by reaching 2.5200, and continuation of the broken support makes us prefer more if the negative attempts to expect testing 50 % Fibonacci correction level in the near period at 2.4300.

Stochastic attempt to reach the oversold level will increase the negative pressure on the price trading, which provides new negative momentum that confirms its attraction to the suggested target.

Expected trading range for today is between 2.5700 and 2.500

Expected trend for today: fluctuated negatively.