Copper price returns to the sideways fluctuation – Analysis – 23-4-2019

Copper price did not succeed to resume the bullish attack due to the lack of the negative momentum caused by stochastic sharp decline towards 20 level, which forced the price to provide new sideways fluctuation due to the stability below 50% Fibonacci correction level at 2.9300.

In general, the bullish overview is dominant unless breaking the bullish channel’s support line at 2.8500, to increase the chances of gathering the additional positive momentum followed by waiting to rally towards the second positive target at 3.0200.

The expected trading range for today is between 2.8600 and 2.9300

The expected trend for today: Fluctuated within the bullish range