Copper price faced strong negative pressures that pushed the price to exit the positive track by breaking 2.8700 support line, suffering big losses by reaching 2.7855 level, while the continuous fluctuation below the broken support that will form new resistance allows us to expect forming new negative trades that might lead to decline towards 2.7215 in the near term and medium term period.
The above chart shows stochastic reach towards 20 level, to support the negative pressures and increase the chances of renewing the bearish attempts until reaching the suggested negative target.
The expected trading range for today is between 2.8360 and 2.7550
The expected trend for today: Bearish