Copper rises slowly – Analysis – 31-7-2017

Copper price provided slow positive trading recently despite its consolidation above the key support 2.7400, affected by stochastic attempt to exit the overbought areas, while the main outlook will remain bullish as long as the mentioned support remain intact, expecting to gather the positive momentum again to breach 2.9500 barrier and open the way to achieve more targets that start at 3.100.

We should note that failing to achieve the required breach will force the price to provide mixed sideways trading along with chances to form intraday negative rebound to test 2.8200 level before reaching the waited main targets.

Expected trading range for today is between 2.8200 and 2.9500

Expected trend for today: Bullish