Copper price attempts to end the decline – Analysis – 22-11-2022

Despite copper price crawl below the moving average 55 and facing negative pressures, achieving positive close above 50% Fibonacci correction level at 3.5000 might assist to end the negative trades for now, to expect the beginning of forming new positive crawl.

Stochastic reach to the oversold areas might assist to end the negative pressures to provide the price with chances to gain the required positive momentum to press on 3.7000, while surpassing it might extend trades towards 3.8500 as a first main target for the bullish attempts.

The expected trading range for today is between 3.5500 and 3.7000

The expected trend for today: Bullish