Copper price moves slowly – Analysis – 27-1-2023

Copper price provided slow sideways trades yesterday by consolidating near 4.2500 level, affected by the contradiction between the major indicators, reminding you that settling below the bullish channel’s resistance at 4.3500 forms major factor to reinforce the chances of starting the correctional bearish track that might target 4.1500 and 4.0500 levels.

On the other hand, facing strong positive pressures and surpassing the mentioned resistance will cancel the negative overview by moving to new bullish track, to expect targeting additional positive stations that start at 4.5500.

The expected trading range for today is between 4.3000 and 4.1500

The expected trend for today: Bearish