Copper price resumes the bullish attack – Analysis – 6-2-2019

Copper price confirmed its affection by the bullish bias domination after settling above 2.8100 level recently, reinforcing our expectations to attempt to achieve more positive targets, thus, we will keep waiting to reach 2.8450 level in the near term period, which surpassing it will confirm the preparation to rally towards 2.9000 in the medium term period.

The moving average 55 rally towards the bullish channel’s support line at 2.7420 confirms blocking the price within the bullish range, to agree stochastic positivity that remains stable within the overbought areas.

The expected trading range for today is between 2.7800 and 2.8450

The expected trend for today: Bullish