Copper price needs positive close – Analysis – 1-2-2019

Copper price begun its trading for today by forming an intraday bearish wave, attempting to relax before resuming the last bullish attempts, reminding you that the stability of 2.7330 level is important to form an extra support for the current rebound, waiting for providing a positive close above the broken bullish channel at 2.7670, to confirm its readiness to record several of the targets in the upcoming period.

The continuation of stochastic fluctuation within the overbought level reinforces the positive expectation, to increase the chances for achieving the required breach and reaching to 2.8100 and 2.8440 in the current period.

Expected trading range for today is between 2.7400 and 2.8100

Expected trend for today: Bullish