Copper hits the resistance – Analysis – 14-3-2017
Economies.com
2017-03-14 08:19AM UTC
Copper price’s trading extended to the upside on the intraday basis, testing the resistance at 2.6250, to provide new negative close below this level keeping the negative stability, therefore, we will keep our bearish expectation, which makes the price renew the negative pressure on 2.5700 level, then begin recording the negative targets by reaching 2.5000 and 2.4300.
Stochastic surpass to the oversold level announces surpassing the negative pressures, opening the way towards gathering the negative momentum that assists to ease the attempts of achieving the suggested targets.
Expected trading range for today is between 2.6250 and 2.5000
Expected trend for today: bearish.
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