Copper price repeats the negative close – Analysis – 17-3-2023

Economies.com
2023-03-17 07:08AM UTC

Copper price kept its negative stability below 4.0300 level, to form major resistance against the negative attempts, assuring the importance of crawling below 38.2% Fibonacci correction level at 3.8500 to open the way to target mor negative stations, to expect moving towards 3.7000 followed by reaching 50% Fibonacci correction level at 3.5000.

 

Also, stochastic continues to provide the negative momentum to support our bearish overview and ease the mission of reaching the previously suggested negative stations.

 

The expected trading range for today is between 3.9700 and 3.7500

 

The expected trend for today: Bearish

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