Copper price attacks the resistance – Analysis – 21-10-2019

Copper price suffered from a strong positive pressures in Friday’s trading, to rally to the upside to press on the bearish channel’s resistance at 2.6200, due to the importance of this level to detect the true trend in the upcoming period, we recommend the neutrality and waiting the next daily close.

Note that the price success to settle above the current resistance so that will confirm its move to the bullish track, to begin targeting positive levels by reaching 2.7000 initially, while providing a negative stability below this resistance will allow it to renew the negative attempts to repeat the pressure on 2.5500 level.

The expected trading range for today is between 2.6000 and 2.6500

The expected trend for today: neutral