Copper price without any change – Analysis – 8-4-2019

Copper price fails to achieve new positive target to be affected by the contradiction of the major indicators, to settle below 2.9300 level until this morning, while the stability of the initial support 2.8800 allows us to wait to gather the positive momentum to extend trades above the current barrier followed by targeting 3.0200 followed by 3.1100 levels in the upcoming period.

We should note that crawling below the initial support will increase the chances of forming correctional bearish trades that might push the price to test the bullish channel’s support line at 2.8300.

The expected trading range for today is between 2.8800 and 3.0200

The expected trend for today: Bullish