Copper price touches its first target – Analysis – 5-2-2019
Economies.com
2019-02-05 07:42AM UTC
Copper price succeeded to gather strong positive momentum yesterday to notice its direct rally towards the first target at 2.8100, while the continuous fluctuation within the bullish channel reinforces the bullish expectations, waiting to reach 38.2% Fibonacci correction level at 2.8450, noting that surpassing this barrier will allow the price to reach 2.9000.
Stochastic consolidation within the overbought areas confirms the continuation of the positivity by providing the positive momentum until reaching the mentioned targets.
The expected trading range for today is between 2.7800 and 2.8450
The expected trend for today: Bullish
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