Copper price keeps the negative track – Analysis – 4-7-2022

Copper price continued to provide negative trades, to approach 50% Fibonacci correction level at 3.4900 and confirm keeping the domination of the bearish bias.

Note that stochastic negative momentum and forming additional barrier at 3.8500 allow us to wait to break 3.8500 to increase the chances of reaching new negative stations that start at 3.4100 and 3.3300.

The expected trading range for today is between 3.7000 and 3.4900

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The expected trend for today: Bearish