Copper price approaches the main support – Analysis – 25-3-2019

Copper price continued to decline, surrendering to stochastic negativity, to approach the bullish channel’s support line at 2.8230, while the upcoming scenario depends on the strength of this support, expecting to attempt to renew the bullish attempts to target 2.8800 followed by 2.9600 levels.

On the other hand, crawling below this support and providing negative close will force the price to suffer additional losses by fluctuating within new negative range, targeting 2.7780 as a first negative target, followed by reaching 23.6% Fibonacci correction level at 2.7215.

The expected trading range for today is between 2.8300 and 2.8800

The expected trend for today: Bullish