Copper price rebounds from the resistance – Analysis – 8-4-2020
Economies.com
2020-04-08 08:30AM UTC
Copper price achieved the waited target 2.2930 yesterday and bounced negatively due to forming solid resistance as appears on the chart, while the continuous fluctuation below this barrier allows us to expect the beginning of forming negative attack to press on 2.2200 level followed by attempting to reach 2.0700.
We should note that attempting to breach this barrier and holding above it would renew the positive attempts that might target 2.4100 in the upcoming period.
The expected trading range for today is between 2.3000 and 2.2200
The expected trend for today: Bearish
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