Copper price repeats the positive closings – Analysis – 23-12-2020

Copper price continued to face stochastic negativity by providing new positive close above the bullish channel’s support line at 3.4800, attempting to find a chance to gather the positive momentum and start recording additional targets that might extend to 3.7000 and 3.7900 levels in the upcoming period.

We remind you that continuing to face negative pressures might force the price to postpone the bullish attack by crawling below the current support, to expect moving towards 3.4015 followed by reaching the key support 3.5660 before achieving any new positive target.

The expected trading range for today is between 3.4750 and 3.6300

The expected trend for today: Bullish