Copper suffers the support line stability – Analysis – 13-3-2017

Copper price provided an intraday positive rebound to surpass 2.5700 level, to approach from the broken support at 2.6200, which forms the neckline of the negative double top pattern, therefore, holding below this level important to form the main resistance for the current trading, to wait for renewing the negative attempts until achieving the waited target at 2.5000 reaching to 2.4200 in the upcoming period.

Stochastic reach to the overbought level compared by the stability of the price within the negative range supports ending the negative pressures, to begin the attempt of gathering new negative momentum in the near period, which allows it to achieve the suggested negative targets.

Expected trading range for today is between 2.6250 and 2.5000

Expected trend for today: bearish.