Copper price tests the initial support – Analysis – 15-6-2021

The lack of the positive momentum led Copper price to form new bearish wave, to notice testing the initial support 4.4000, noting that trading within the bullish channel and settling above 4.2100 support line increases the chances of renewing the bullish attempts to target 4.6000 and 4.7100 levels.

Note that crawling below the mentioned initial support will postpone the bullish attack and increases the chances of suffering additional losses until touching the major support before reaching any new positive target.

The expected trading range for today is between 4.4000 and 4.6200

The expected trend for today: Bullish