Copper tests the support – Analysis – 20-2-2017

Copper price returned to form negative fluctuation to settle near 2.6900 level, testing the bullish channel’s support as appears in the above image, the stability of the support makes us keep our bullish overview, waiting for forming bullish trading until reaching the targets at 2.8000 and 2.9000.

While the continuation of the negative pressure and the price attempt to settle below the current support, so that will delay the negative overview, affected by bearish correctional bias and 2.6650 level represents the initial negative target reaching to 2.5700 level, therefore, we should be aware for today to avoid any attempt to change the main trend.

Expected trading range for today is between 2.6900 and 2.8000

Expected trend for today: bullish if the support settled