Copper price affected by intraday sideways range – Analysis – 12-7-2018
Economies.com
2018-07-12 07:47AM UTC
Copper price was affected by the stability of 50% Fibonacci correction as we expected, to form an intraday obstacle against the negative attempts, forcing the price to form some intraday sideways waves by consolidating around 2.7700, while the stability of 2.8500 level supports the continuation of the negativity for the upcoming trading, to continue forming additional resistance and increases the chances of breaking the current obstacle represented by 2.7000 level, to open the way to record additional negative targets that might start at 2.6200 followed by 2.5500.
Expected trading range for today is between 2.8200 and 2.7000
Expected trend for today: Sideways
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