Copper price touches the resistance – Analysis – 13-9-2021

Copper price formed a strong bullish rally in Friday’s trading, recording several targets by reaching the initial resistance at 4.4670, in spite of the stability of the price within the bullish channel levels, but we confirm that surpassing this resistance is important to confirm the continuation of the positivity, which might target 4.5200 level reaching 4.6400 in the upcoming period trading.

The risk of changing the main trend is represented by the price attempt to reach below the bullish channel’s support at 4.3000 level, to open the way towards the negative trading again, which forces it to suffer several losses by reaching 4.1600 initially.

The expected trading range for today is between 4.3800 and 4.5200

The expected trend for today: Bullish