Copper price provides negative signal – Analysis – 15-6-2022

Copper price provided a new negative signal by its fluctuation below 4.1800 level, which formed an obstacle against the negative attempts, to record 4.1000 level to confirm its surrender to the suggested bearish bias domination.

The continuation of providing negative momentum by stochastic makes us expect resuming the negative attack to target 4.0500 level, and surpassing it will extend the losses towards 50% Fibonacci correction level at 3.9300 to form the initial target of the current trading.

The expected trading range for today is between 4.0500 and 4.0500

The expected trend for today: Bearish