Copper moves slowly – Analysis – 18-10-2017

Copper price was forced to provide slow trading recently attempting to hold against the negativity caused by stochastic attempt to exit from the overbought areas, which might force the price to provide additional sideways trading until gathering new bullish momentum to manage to resume the bullish attack and reach the main target at 3.4300.

We remind you that the price consolidation within the bullish channel besides 3.0800 level forming additional support reinforce the bullish attempts, to assist blocking the price within the bullish range until gathering the required positive momentum.

Expected trading range for today is between 3.0800 and 3.3200

Expected trend for today: Bullish