Copper keeps the positivity – Analysis – 20-2-2017

Copper price kept the positive stability by providing positive close above the minor bullish channel’s support at 2.6700 for today, therefore, we will keep waiting for forming new bullish attack to target 2.7500 in the near period, to for its attraction to the resistance at 2.9000.

The price gets its positive momentum by stochastic rally to 50 level, to increase the positive pressure on the current trading, which allows it to achieve the waited targets, besides the stability of the moving average 55 near the bullish channel’s support that confirms the price confinement within the bullish range in the current trading.

Expected trading range for today is between 2.6700 and 2.9000

Expected trend for today: bullish.