Copper tests the initial support – Analysis – 17-3-2017

Copper price lost its negative momentum, which pushed it to test the initial support around 2.5300, facing the moving average 55, while we remind you with the importance of the stability of the current level to confirm the previously suggested bullish attempts that target 2.700 level in the short term and medium term period.

Stochastic reach to the oversold areas confirms getting rid of the negative pressures of the current trading, to renew the chances of gathering bullish momentum until achieving our target.

Expected trading range for today is between 2.6300 and 2.7300

Expected trend for today: Bullish