Copper resists the negative pressures – Analysis – 20-10-2017

Copper price still need positive momentum, but its repeated fluctuation above the initial support at 3.0800 assists to confirm the bullish bias domination in the upcoming period trading, as long as the price settles within the bullish channel levels, so that makes us to wait for gathering the bullish momentum in the near period, which allows it to record more of the targets that begin at 3.3200 reaching to 3.4300.

Stochastic fluctuation below 80 level might force the price to provide extra sideways trading in the current period, and this eases the attempt to gather the required momentum and reaching to the near and medium period without suffering any losses, by the stability of the main support in the bullish channel.

Expected trading range for today is between 3.0800 and 3.3200

Expected trend for today: Fluctuated within the bullish range