Copper price resumes the negative attack – Analysis – 6-7-2018

Copper price succeeded to take advantage of the negative pressures, noticing surpassing 38.2% Fibonacci correction level that recently formed the first target at 2.8400, thus, we will keep suggesting the bearish attempts, reminding you that the next target is located at 2.7500, which represents 50% Fibonacci correction level of the recent trades.

Stochastic continuous fluctuation within the oversold areas reinforces our bearish overview by providing the negative momentum until reaching the mentioned target.

Expected trading range for today is between 2.8600 and 2.7500

Expected trend for today: Bearish