Copper price hits the target – Analysis – 27-6-2022

Copper price ended its recent trades by achieving the target at 3.6300, facing 61.8% Fibonacci correction level that forms good obstacle against the attempt to resume the decline, to notice its rebound towards 3.7800.

We remind you that the frequent negative stability below 3.9300 will increase the chances of forming new negative trades, to keep waiting to get the additional negative momentum and manage to break the mentioned obstacle and reach the next target at 3.5300.

The expected trading range for today is between 3.8600 and 3.6300

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The expected trend for today: Bearish