Copper price keeps the negativity – Analysis – 20-3-2023

Despite copper price recent weak trades, the frequent negative stability below 4.0500 resistance supports the previously suggested negative scenario, while the major indicators’ attempt to provide the additional negative momentum will increase the chances of breaking 3.8500 to manage to reach the additional negative stations that might start at 3.7000 and 3.6000.

On the other hand, succeeding to breach 4.0500 and holding above it will confirm its preparation to the bullish bias, to settle within the bullish channel, which increases the chances of targeting many positive stations that might start at 4.2200.

The expected trading range for today is between 3.9700 and 3.7500

The expected trend for today: Bearish