Copper price provides a positive close – Analysis – 22-10-2019

Copper price provided a clear positive close by its stability above 2.6200 level, attempting to reinforce moving to the bullish track, we expect gathering a strong positive momentum to begin targeting positive levels by reaching 50% Fibonacci correction level at 2.6945.

While the price decline below 2.6200 level and providing a new negative close, so that will force it to form a strong negative trading, due to its stability within the bearish channel levels, 2.5500 level forms the negative target of the bearish track.

The expected trading range for today is between 2.6200 and 2.7000

The expected trend for today: Bullish