Copper fluctuates until it breaches – Analysis – 28-12-2016

Copper price failed to achieve the required break to the support at 2.4200, affected by an intraday negative pressure, to notice its confinement between 50 % Fibonacci level at 2.5700 and between the mentioned support, which supports the domination of the sideways trading in the near period until gathering the required momentum, which allows it to break the current support, to open the way towards recording more of the targets by reaching 2.3000 and 2.2200.

While surpassing 2.5700 level will delay the negative overview, to begin forming new bullish attack, attracted to the recorded top at 2.7200.

Expected trading range for today is between 2.4200 and 2.5700

Expected trend for today: Sideways