Copper price fluctuates within the bullish track – Analysis – 1-9-2021

Copper price touched the target 4.4100 level yesterday, to form intraday obstacle against the bullish attempts, noticing forming intraday rebound towards 4.3300, while the stability of the major support at 4.2440 allows us to expect renewing the bullish attempts until surpassing the next barrier followed by starting to target new positive levels that might extend towards 4.5500 and 4.6400.

Note that declining below the main bullish channel’s support line will cancel the positive overview to push the price to suffer many losses by declining towards 4.1000 initially.

The expected trading range for today is between 4.2800 and 4.5500

The expected trend for today: Bullish