Copper price repeats the sideways fluctuation – Analysis – 24-1-2023

Copper price returned to provide slow sideways fluctuation by consolidating below the bullish channel’s resistance at 4.3500, which hinders the chances of resuming the rise until this moment, thus, we will keep suggesting forming correctional bearish trades to target 4.1200 followed by reaching the additional support at 4.0500.

We remind you that succeeding to breach the resistance and holding above it will confirm moving to the bullish track again, to attempt to target new positive stations that might start at 4.4200 and 4.6000 levels.

The expected trading range for today is between 4.3500 and 4.1500

The expected trend for today: Bearish