Copper price repeats the negative closings – Analysis – 25-1-2023

Copper price confirmed surrendering to the domination of the correctional bearish bias by providing frequent negative closings below the bullish channel’s resistance at 4.3500, which hinders the chances of resuming the bullish attack.

We expect to get negative momentum by stochastic and start forming bearish waves to start targeting the negative stations that might begin at 4.1500 followed by reaching the additional support at 4.0500.

The expected trading range for today is between 4.0500 and 4.1500

The expected trend for today: Bearish