No change on Copper track– Analysis – 21-8-2017

There is no change for Copper price, due to its repeated stability above 2.8700 level, to keep forming strong support base against the bullish attempts, also the stability of the price within the bullish channel levels supports our bullish expectation that target 3.1000 level initially, and surpassing it will extend the trading to hit the bullish channel’s resistance at 3.2500.

The stability of the moving average 55 near the bullish channel’s support assists to increase the positive pressures on the near and medium period, besides the stability of stochastic stability above 50 level reinforces the attempt to gain the positive momentum until reaching the previously waited targets.

Expected trading range for today is between 2.9000 and 3.1000

Expected trend for today: Bullish.