Copper price exits the bullish track – Analysis – 16-3-2023
Economies.com
2023-03-16 05:39AM UTC
Copper price faced strong negative pressures to force it to decline below the bullish channel’s support line at 4.000 and settle within negative track, suffering some losses by touching 38.2% Fibonacci correction at 3.8500.
In case the price continued to crawl below the broken support, that will confirm the domination of the bearish bias for the upcoming trading, to expect crawling below 3.8500 and start targeting more negative stations that might start at 3.7000.
The expected trading range for today is between 3.9500 and 3.7500
The expected trend for today: Bearish
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