Copper fluctuates in intraday range – Analysis – 14-2-2017

Copper price kept its stability below 2.8000 level, to form an intraday barrier against the bullish rally, which forces it to form sideways fluctuation as appears in the above image, the stability of the support at 2.7200 to confirm the price confinement within the bullish range, waiting for achieving it to surpass the current barrier then reach the second target at 2.9500.

Stochastic continues to provide the positive momentum by its stability within the overbought level, to increase the chances for surpassing the current barrier, to resume recording the waited gains.

Expected trading range for today is between 2.7200 and 2.9500

Expected trend for today: bullish.