Copper settles below the broken support level 4.5000 to settle around 3.4600 to keep the trading range tight, therefore we remain in our previous expectation to achieve 3.440 followed by 3.3400 if the price held below the broken level.
Stochastic provides intraday positive signals by moving away from 20 level to support the tight trading during the near period.
Expected trading range is between 3.5600 and 3.3400
Expected trend: bearish
Thanks for your feedback.
The pair opened yesterday’s trading positively, to activate our bullish trend expectations which its targets begin at 0.9500 and extend to reach 0.9615.
MoreThe pair’s trading bounced lower after approaching from the waited target yesterday at 0.8390, where the price is retesting now the previously breached continuous flag’s resistance, which turns now into support at 0.8245
MoreThe pair returns to be trading inside the falling wedge, and couldn’t managed to achieve a daily close above its resistance, which makes us need witnessing new breach to confirm the continuation of the bullish trend.
More