Copper price awaits the positive momentum – Analysis – 23-7-2019

Copper price continued to provide mixed trading to postpone the bullish attack due to its consolidation below the moving average 55, while lacking the positive momentum will force the price to renew the negative fluctuations, with chances to test the bullish channel’s support line at 2.6200.

Therefore, we suggest the correctional bearish attempts along with the price fluctuation below 2.7500, until reaching the targeted support line, while rallying above the current barrier and providing positive close will allow us to suggest the positivity again, reminding you that the first positive target is located at 2.8400.

The expected trading range for today is between 2.7500 and 2.6650

The expected trend for today: Bearish temporarily