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Copper price settles above the support – Analysis – 21-10-2022
Copper price ended the negative fluctuation by providing new close above 3.2700 support line to postpone the attempts to resume the decline for the current trades, expecting to confine trades between the current support and 3.5000 resistance.
In case facing new negative pressures and breaking the current support, that will confirm surrendering to the domination of the bearish bias again, to expect suffering additional losses by crawling towards 3.1300 that forms 61.8% Fibonacci correction level.
The expected trading range for today is between 3.4500 and 3.2700
The expected trend for today: Sideways
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