Copper price touches the target – Analysis – 13-5-2022
Economies.com
2022-05-13 08:17AM UTC
Copper price exited the sideways track yesterday, forming new negative wave to reach the target at 4.0500, confirming its surrender to the domination of the bearish bias, while the current rebound won’t affect the main bearish track due to the stability of the main resistance at 4.3800, in addition to 4.1800 level attempt to form additional barrier.
Therefore, we will keep our negative overview, expecting to gather the additional negative momentum to reach 3.9300 level direct, to press on 50% Fibonacci correction level as a next main target.
The expected trading range for today is between 4.1800 and 3.9300
The expected trend for today: Bearish
Commodities News
Commodities
Gold logs in first weekly loss in five weeks
2024-04-26 18:34PM UTC
Gold prices rose on Friday, shrugging off a surge by the dollar index following upbeat data, ...
Commodities
Palladium tumbles below $1000 an ounce once again
2024-04-26 15:34PM UTC
Palladium prices fell on Friday as the dollar rose against most major rivals, with the industrial ...
Commodities
Oil prices park at week high as US inventories drop
2024-04-26 13:14PM UTC
Oil prices rose in European trade on Friday, extending gains for the second straight session, with ...
Commodities Technical Analysis
Commodities
Wheat price keeps its positive stability – Forecast today - 29-04-2024
2024-04-29 03:32AM UTC
Wheat Price Analysis Wheat price provided clear positive trades in the previous sessions to ...
Commodities
Corn price tests the support base – Forecast today - 29-04-2024
2024-04-29 03:32AM UTC
Corn Price Analysis Corn price is testing 449.20$ level and keeps its stability above it, ...
Commodities
Brent oil price begins negatively – Forecast today - 29-04-2024
2024-04-29 03:32AM UTC
Brent Oil Price Analysis Brent oil price rebounds bearishly after testing 89.50$ level, to head ...