Copper price still bullish – Analysis – 17-1-2022

Copper price lost its positive momentum in the recent trades, which led to form negative rebound from 4.5700 to 4.4000 level, noting that the main stability above the additional support at 4.3500 allows us to keep the bullish overview that might target 4.5200 followed by reaching the next positive target at 1.6200.

Any attempt to decline below the additional support and getting negative closings below it confirms postponing the bullish attack, to expect targeting negative levels that might start at 4.2800 followed by reaching 4.1850 levels.

The expected trading range for today is between 4.3500 and 4.5000

The expected trend for today: Bullish