Copper suffers the support line stability – Analysis – 16-3-2017

Copper price provided more of the positive trading yesterday to surpass 2.6300 barrier, to delay the negative attempts by reaching 2.6670, we will depend currently on the stability of 2.6300 level as an initial support, to notice the stability of the moving average 55 below the price trading to begin preferring the bullish attempts, to reach 2.7300 in the near period reaching to 2.900 in the upcoming period.

Stochastic attempt to surpass the overbought level increases the positive pressure, opening the way towards recording the mentioned positive targets then monitor the price behavior to detect the main targets in the futuristic period.

Expected trading range for today is between 2.6300 and 2.7300

Expected trend for today: bullish