Copper price shows some correction – Analysis – 6-12-2019

Copper price faced sudden strong positive pressure due to stochastic rally towards the overbought areas, to fluctuate above the MA55 and record 2.6645 level, while as long as the price is below 2.7000 barrier, the main scenario will remain bearish, reminding you that the targets located at 2.6000 followed by 2.5125.

On the other hand, the continuous positive pressures and rallying above the mentioned barrier will cancel the negative overview to expect the beginning of forming strong bullish trades in the upcoming period, targeting many positive levels that start at 2.7450 and 2.8380 levels.

The expected trading range for today is between 2.7000 and 2.6000

The expected trend for today: Fluctuated within the bearish range