Copper price resumes the positivity – Analysis – 20-2-2019

Copper price ended its trading by holding above the 2.8400 barrier, announcing that it begins resuming the main bullish attack, we expect reaching 2.9300 level, to achieve the initial target, and the continuation of the positive pressures will allow the price hit 61.8% Fibonacci at 3.0300.

The stability of the moving average 55 near the main bullish channel’s support at 2.7660 level confirms the price confinement within the bullish range, besides stochastic reach to the overbought level, to provide extra positive momentum that confirms the continuation of the suggested positivity.

The expected trading range for today is between 2.8500 and 2.9300

The expected trend for today: Bullish