Copper price hovers around the initial support – Analysis – 5-10-2018
Economies.com
2018-10-05 08:50AM UTC
Copper price failed to resume the bullish attempts, surrendering to stochastic negativity that consolidates within the oversold areas, noticing the price stability around the initial support 2.7500 that forms good barrier against changing the current trend.
The stability of the current support allows us to wait to gather new positive momentum to renew the attempts to reach 2.8840, while crawling below the support will increase the chances of forming negative trades, to suffer more losses by moving towards 2.7000 and 2.6200 levels.
Expected trading range for today is between 2.7500 and 2.8100
Expected trend for today: Bullish
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