Copper price faces the negative pressures – Analysis – 12-5-2021

Copper price still lacks the positive momentum after stochastic exit from the overbought areas, while that didn’t affect its positive stability to notice its continuous fluctuation above the extended support at 4.7000 in order to find a chance to resume the bullish attack and record the additional targets at 5.0000 and 5.2200 levels.

We should note that facing continuous negative pressures and declining below the mentioned support will confirm postponing the bullish attack and suffer some losses by forming correctional bearish waves and expect reaching 4.4700 initially.

The expected trading range for today is between 4.7200 and 4.9000

The expected trend for today: Bullish