Copper price surrenders to the sideways range – Analysis – 11-2-2019

Copper price surrendered to the sideways bias domination in its last trading, affected by the stability of the barrier at 2.8460 to decelerate the waited bullish channel’s attempts, we notice the price confinement within a tight range that is represented by the current barrier and the bullish channel’s support level at 2.7600.

Note that the stability of the bullish channel’s support will increase the chances for gathering a new positive momentum, to wait for renewing the attempts of surpassing 2.7600 level, which allows it to achieve new positive targets that might begin at 2.9360 and 3.0300 in the upcoming trading.

The expected trading range for today is between 2.7600 and 2.8400

The expected trend for today: Fluctuated within the bullish range