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Copper price remains bullish– Analysis – 24-2-2023
Copper price lost the positive momentum yesterday, to repeat its sideways fluctuation within the bullish channel reaching 4.020, while the stability of the trading in the current period above the bullish channel’s support to 3.9500, so that makes us keep the bullish suggestion by gathering extra positive momentum to renew the pressure on 3.1500 level, then attempts to reach 23.6% Fibonacci correction level near 4.3000.
the continuation of the price contradiction between the negative pressures and achieving breaking the mentioned support, so that will confirm its move to the negative track, to begin forming strong bearish waves, which makes it suffer several losses by reaching 3.8500 and 3.7000.
The expected trading range for today is between 4.0000 and 4.1500
The expected trend for today: Bullish
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