Copper price records the initial target – Analysis – 18-4-2019

Copper price succeeded to get advantage from the positive momentum by forming a new bullish wave, hitting the initial positive target at 2.9800, the intraday rebound to 2.9500 doesn’t consider as a threat to the continuation of the positivity, to keep our bullish expectation that targets 61.8% Fibonacci correction level at 3.0200.

The continuation of stochastic fluctuation above 50 level supports the bullish suggestion by providing a continuous positive momentum, to increase the chances for resuming the expected bullish attack.

The expected trading range for today is between 2.9300 and 3.0200

The expected trend for today: Bullish