Copper needs strong momentum – Analysis – 2/7/2015

We are still waiting copper price to get new negative momentum to activate the previously suggested negative attempts, noticing the stability around 2.6350 level without showing any new actions until this moment, while the stability of the moving average below the main resistance confirms the negative continuation for the upcoming period, waiting to reach the main target at 2.4000.

Stochastic move within a positive level supports the sideways fluctuation until forming bearish wave that offers the required momentum to confirm reaching the waited target.

Expected trading range for today is between 2.6600 and 2.5000

Expected trend for today: Fluctuated bearishly