Copper price needs to confirm the breach – Analysis – 15-1-2020

Copper price continued to fluctuate below 2.8400 barrier, attempting to confirm the breach to increase the chances of renewing the bullish attempts in the near term and medium term period, noting that the continuous attempts of the major indicators to provide the additional positive momentum will assist to confirm moving to the bullish track that targets 2.9000 followed by 3.0200 levels.

The risks of the surrender to the negative trades will appear in case the price declined below 2.7500, to increase the chances of suffering losses that might start at 2.7000 and 2.6250 levels.

The expected trading range for today is between 2.8000 and 2.9000

The expected trend for today: Bullish