Copper price lacks the positive momentum – Analysis – 17-11-2022

Copper price still affected by stochastic negative momentum, to continue postponing the bullish attempts and settle near the initial support at 3.700, expecting to continue forming sideways trades to attempt to gather the positive momentum again in order to regain the bullish bias and start achieving some targets by rallying towards 3.9200 and 4.0500.

On the other hand, facing continuous negative pressures and crawling below 3.7000 will force it to provide new correctional bearish trades that might push it to suffer additional losses by moving towards 3.6100 and 3.5000.

The expected trading range for today is between 3.7000 and 3.9200

The expected trend for today: Bullish