Copper fluctuates within the bullish range – Analysis – 22-2-2017

Copper price failed to gather any positive momentum until this moment, to repeat the sideways fluctuation, to approach form the bullish channel’s support at 2.6900, the stability of this support, to keep our bullish overview, reminding you that surpassing 2.8000 level is important for opening the way towards hitting the resistance at 2.9000.

Stochastic approach from the oversold level supports surpassing the negative pressures, to open the way towards gathering new positive momentum, besides the stability of the moving average 55 at 2.7000 increases the strength of the support, which confirms the price confinement within the bullish range until achieving the expected targets.

Expected trading range for today is between 2.7000 and 2.9000

Expected trend for today: bullish