Copper price needs new positive momentum – Analysis – 25-10-2021

Copper price reacted to stochastic negativity to force it to postpone the bullish attack and settle near 4.5500, to threat the stability of the bullish channel’s support line that appears on the chart.

Note that the cluster of support lines and the moving average 55 consolidation near the additional support at 4.3100 allow us to wait to gather the additional positive momentum, to support the continuation of the positivity that might target 4.7800 followed by reaching the next main target at 4.9400.

The expected trading range for today is between 4.4000 and 4.7800

The expected trend for today: Bullish