Copper price continues to postpone the bullish rally – Analysis – 18-11-2022
Economies.com
2022-11-18 06:54AM UTC
Copper price confirmed postponing the bullish rally by facing frequent negative pressures to settle below 3.7000 level, expecting to move towards the moving average 55 soon at 3.5900 followed by attempting to gather the positive momentum again in order to renew the bullish attempts and repeat the pressure on 3.8500 barrier.
Therefore, we will suggest the bearish bias temporarily, noting that attempting to crawl below the moving average 55 might force the price to suffer additional losses by attempting to reach 50% Fibonacci correction level at 3.5000.
The expected trading range for today is between 3.7500 and 3.5900
The expected trend for today: Bearish temporarily
Commodities News
Commodities
Brent climbs 1.25% after Saudi crude price hike
2024-05-06 14:34PM UTC
International benchmark Brent rose 1.25% in the early American trade on track for the first profit ...
Commodities
Gold recovers as dollar loses ground
2024-05-06 09:32AM UTC
Gold prices rose in European trade on Monday for the first session in three days away from ...
Commodities
Oil prices reverse lower, with US crude slumping 7% this week
2024-05-03 19:36PM UTC
Oil prices fell on Friday to seven-week lows amid concerns about oversupplies after an unexpected ...
Commodities Technical Analysis
Commodities
Wheat price achieves strong gains – Forecast today - 07-05-2024
2024-05-07 03:51AM UTC
Wheat Price Analysis Wheat price rallied upwards strongly yesterday to breach 641.50$ and settle ...
Commodities
Soybean price surpasses the target – Forecast today - 07-05-2024
2024-05-07 03:51AM UTC
Soybean Price Analysis Soybean price rallied upwards strongly to surpass our waited target at ...
Commodities
Corn price is recovering – Forecast today - 07-05-2024
2024-05-07 03:51AM UTC
Corn Price Analysis Corn price bounced upwards strongly to breach 461.90$ level and approach ...