Copper within tight range – Analysis – 19-6-2017

Copper price failed to break 2.5300 support line recently, which forces it to settle within tight range represented by the mentioned support and 2.5850 resistance, these levels represent main levels to detect the main trend for the upcoming period, which makes us stay neutral and wait to breach one of the mentioned levels.

Note that breaching the resistance will push the price to attempt to build bullish bias, expecting to target 2.6500 followed by attempting to test the main resistance at 2.7500, while breaking the current support will open the way to form negative attack and attempt to reach the first negative target at 2.4300.

Expected trading range for today is between 2.5850 and 2.5300

Expected trend for today: Neutral