Copper fluctuates – Analysis – 3-10-2017

Copper price lost its positive momentum to be forced to provide sideways trading by moving below 3.0800 barrier, while the price approaches now from 50% Fibonacci correction level at 2.8600, forming initial support that confirms its move within sideways range until breaching one of the mentioned levels.

Note that the continuation of the negative pressures and stochastic attempt to break the initial support might force the price to threat the bullish channel's support at 2.7700, while rallying above 3.0800 barrier will open the way to resume recording gains by reaching 3.4000 in the upcoming period.

Expected trading range for today is between 2.8600 and 3.0800

Expected trend for today: Fluctuated