Copper price repeats the pressure on the resistance – Analysis – 23-2-2021

Copper price continued to provide clear pressure on the bullish channel’s resistance at 4.1800, in order to find a way to resume the bullish attack in the upcoming period, while we recommend waiting to confirm breaching this level to avoid any losses that might appear due to the sudden decline, followed by waiting to reach the additional targets at 4.2300 and 4.4100.

We remind you that the price attempt to crawl below the additional support at 3.8810 will postpone the bullish attack, to expect suffering some losses by declining towards 3.7800 and 3.6650 levels.

The expected trading range for today is between 4.0650 and 4.2300

The expected trend for today: Bullish