Copper price provides temporary negative fluctuation – Analysis – 18-10-2018

Copper price responded to stochastic negativity to notice its recent stability below the moving average 55, providing temporary negative fluctuation by reaching 2.7500, while the continuous negative pressure might force the price to test the initial support at 2.7000 followed by attempting to gather its strengths by gathering new positive momentum to repeat the attempts to reach the main targets at 2.8500 followed by 2.9000.

Therefore, we will stay aside for the near term trading and depend on 2.8000 level forming additional obstacle until testing the previously mentioned initial support.

Expected trading range for today is between 2.8000 and 2.7000

Expected trend for today: Bearish