Copper returns to the positivity – Analysis – 29-3-2017

Copper price ended its trading yesterday with clear negativity by breaching 2.6300 level, which represents the bearish channel’s resistance providing positive close above it, which confirms surpassing the negative pressures and makes us prefer the dominant positivity again, to expect the price rally in the near period to 2.7200 and the continuation of the positive pressure might allow the price to hit 2.800 level to form the main target in the current period.

Stochastic attempt to surpass the overbought level might force the price to provide some sideways trading until gathering new bullish momentum, to extend the trading to the expected targets.

Expected trading range for today is between 2.6300 and 2.7200

Expected trend for today: bullish