Copper price presses on the support – Analysis – 12-1-2021
Economies.com
2021-01-12 06:10AM UTC
Copper price correctional trades extended towards the bullish channel’s support line at 3.5500, threating the positive stability due to the continuous negative momentum signals coming by stochastic.
Therefore, we recommend monitoring the price behavior today and wait the next close to manage to detect the next trend, as declining below the support and holding below it will force it to form strong negative attack and suffer big losses that might extend to 3.4000 and 3.2400 levels.
The expected trading range for today is between 3.6300 and 3.5000
The expected trend for today: Neutral
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