Copper price provides temporary correctional trades – Forecast today – 22-3-2024

Copper price didn’t hold for long time against stochastic negativity, to hint postponing the bullish attack by settling below 4.1500$ level, noticing the beginning of forming correctional waves by fluctuating below 4.0200$.

Note that the consolidation of the MA55 near 38.2% Fibonacci correction level at 3.8500$ will assist to decrease the effect of the negative track, to provide the chances to gather the positive momentum again and manage to motivate the bullish track again, waiting to surpass 4.1500$ level and reach the next positive stations at 4.3000$ and 4.5400$.

The expected trading range for today is between 3.9200$ and 4.0750$

Trend forecast: Bullish