Copper price settles below the resistance– Analysis – 03-10-2019

In spite of forming a temporary correctional rebound by Copper price, but its negative stability below the bearish channel’s resistance at 2.5800 reinforces the negative scenario of the upcoming trading, but the stability of the moving average 55 near the main resistance confirms the trading confinement within the negative range as we expected previously.

Therefore, we will keep waiting for a new negative momentum that allows it to decline below 2.500 level, to begin targeting the main negative levels by reaching 2.4800 and 2.4000.

The expected trading range for today is between 2.5800 and 2.4800

The expected trend for today: Bearish