Copper remains sideways – Analysis – 30-12-2016
Economies.com
2016-12-30 09:23AM UTC
Copper price suffered from the sideways bias domination in the last trading to repeat the fluctuation between 50 % Fibonacci level to form strong resistance at 2.5700 and 38.2% Fibonacci at 2.4200, until surpassing one of these levels we will keep preferring the sideways bias in the near period.
Reminding you that surpassing the current resistance will open the way towards recording some positive targets by reaching 2.6600 and 2.7300, while breaking it will turn the bearish bias, to suffer several losses by reaching 2.3000 and 2.2200.
Expected trading range for today is between 2.4200 and 2.5700
Expected trend for today: Sideways
Commodities News
Commodities
Gold gains ground as dollar dips while traders digest Fed's decisions
2024-05-02 18:30PM UTC
Gold prices rose on Thursday as the dollar fell against most major rivals, while investors digest ...
Commodities
Oil prices try to recover from seven-week lows
2024-05-02 13:05PM UTC
Global oil prices rose in European trade on Thursday for the first time in five sessions away from ...
Commodities
Gold tumbles to one-month lows but still logs in monthly profit
2024-04-30 20:41PM UTC
Gold prices fell on Tuesday as the dollar rose against most major rivals, but the precious metal ...
Commodities Technical Analysis
Commodities
Wheat price is recovering – Forecast today - 03-05-2024
2024-05-03 03:37AM UTC
Wheat Price Analysis Wheat price bounced clearly upwards after the 597.10$ level formed solid ...
Commodities
Soybean price reactivates the correctional scenario – Forecast today - 03-05-2024
2024-05-03 03:37AM UTC
Soybean Price Analysis Soybean price breached the 1193.10$ level clearly and closed the daily ...
Commodities
Corn price hits the target – Forecast today - 03-05-2024
2024-05-03 03:37AM UTC
Corn Price Analysis Corn price rallied upwards yesterday to succeed achieving our first waited ...