Copper price seeks new momentum – Analysis – 29-6-2018
Economies.com
2018-06-29 09:30AM UTC
Copper price forced to provide some intraday sideways trading, affected by its neediness to the negative momentum, due to stochastic surpass to the oversold level, we expect testing 3.030 level in the current trading until gathering new negative momentum, to repeat the attempts of recording new negative targets that begin at 2.8500 reaching to 2.7000 in the upcoming period.
The moving average 55 near the main resistance at 3.0850 confirms the price confinement within the bearish range, to increase the negative pressures, and to confirm its readiness to resume the waited negative attack.
Expected trading range for today is between 3.0300 and 2.8500
Expected trend for today: Bearish
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