Copper price settles below the barrier – Analysis – 18-6-2020

Copper price confirmed its affection by the bearish bias again by providing new negative closings below 2.6200 barrier, thus, we will keep waiting to gather the additional negative momentum to manage to decline towards 2.4530 that forms the first negative target of the near term and medium term trades.

We remind you that the succeeding to breach the barrier will push the price back to the correctional bullish track, to keep attempting to record the positive targets around 2.7100 and 2.8080 to test the bearish channel’s resistance that appears on the chart.

The expected trading range for today is between 2.6200 and 2.4530

The expected trend for today: Bearish