Copper price in sideways range – Analysis – 19-1-2022

Copper price still affected by stochastic negativity, to hinder the waited bullish rally and fluctuate near the additional support 4.3500, thus, we expect to form new sideways trades until gathering the positive momentum to assist to activate the bullish track that might target 4.5200 initially, followed by reaching the next barrier at 4.6200.

Note that the price attempt to decline below the mentioned support will force the price to form correctional bearish waves, to suffer additional losses that might extend towards 4.2800 initially.

The expected trading range for today is between 4.3500 and 4.4700

The expected trend for today: Bullish