Copper price declines below the support – Analysis – 27-1-2020
Economies.com
2020-01-27 07:56AM UTC
Copper price formed strong negative attack on last Friday, to notice its decline below the minor bullish channel’s support line at 2.6950, hinting moving into new negative track by reaching 2.6160.
The continuous negative closings below the broken support besides stochastic negative momentum signals by settling within the oversold areas allows us to suggest more negative trades until reaching 2.5500 level, to press on 61.8% Fibonacci correction level.
The expected trading range for today is between 2.6630 and 2.5500
The expected trend for today: Bearish
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