Copper price has to decline – Analysis – 23-3-2021

Copper price continued to provide slow trades recently, keeping its stability below the bullish channel’s resistance at 4.1900, while the continuous stability of this resistance will increase the chances of forming correctional bearish trades in the near term and medium term period, waiting to achieve the targets at 3.9500 and 3.8810.

On the other hand, rallying to breach the current resistance and holding above it will confirm moving to new bullish track to ease the mission of recording new positive targets that start at 4.4100.

The expected trading range for today is between 4.1400 and 3.8810

The expected trend for today: Bearish