Copper settles within intraday sideways range – Analysis – 17-1-2018

Copper price failed to take advantage of the positive factors to notice renewing the sideways fluctuation and settles around 3.2000, reminding you that it is important to hold above this level to support the bullish attempts that target 3.4400 followed by 3.5700.

We remind you that attempting to crawl below the initial support will confirm postponing the bullish attempts to be forced to provide some correctional bearish trades to target 3.0800 followed by reaching the main bullish channel’s support at 2.9800.

Expected trading range for today is between 3.2000 and 3.4400

Expected trend for today: Bullish