Copper price tests the support – Analysis – 26-4-2019
Economies.com
2019-04-26 06:28AM UTC
Copper price formed new negative trades to test the bullish channel’s support line at 2.8550 and form clear barrier against the attempts to change the main trend, as the continuous stability of this support increases the chances of renewing the bullish attempts that might target 2.9300 followed by 3.0200 in the upcoming period.
Stochastic reach to the oversold areas confirms getting rid of the negative pressures to agree our bullish overview, also, the consolidation of the moving average 55 around the main support increases its strength to decrease the chances of moving to the negative track.
The expected trading range for today is between 2.8550 and 2.9300
The expected trend for today: Bullish
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