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Copper price holds above the support – Analysis – 22-10-2021
No change to copper price bullish track as it remains consolidated above the bullish channel’s support line at 4.5450, which might force the price to form sideways fluctuation due to the lack of the positive momentum, to confine trades between the current support and 4.7800.
On the other hand, facing the negative pressures and crawling below the current support will cancel the positive overview, to expect suffering losses by moving towards 4.4200 followed by reaching the moving average 55 at 4.3000.
The expected trading range for today is between 4.5500 and 4.7800
The expected trend for today: Bullish
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