Copper price surrendered to the stability of the bullish channel’s support near 4.5800, to notice forming a new bullish rally, approaching from the initial target at 4.8100, to confirm its surrender to the expected bullish bias domination.
In general, the repeated stability within the bullish channel’s levels besides stochastic attempt to provide positive momentum makes us wait for surpassing the current obstacle, to extend the trading to 4.9400, which represents the second target for the bullish bias.
The expected trading range for today is between 4.6300 and 4.8500
The expected trend for today: Bullish.