No news for Copper – Analysis – 19-1-2018

Copper price couldn’t move until this morning due to the contradiction between the main indicators, which forces it to provide extra sideways trading, and continue delaying the waited bullish rally, reminding you that the price success to gain the positive momentum will allow it to resume the bullish attack, to extend the trading to 3.4400, which forms the first target.

The price attempt to sneak below the initial support at 3.2000 will delay the bullish attempts, which forces it to provide some bearish correctional trading, to expect reaching to 3.08000 level reaching to the main bullish channel’s support at 2.9800.

Expected trading range for today is between 3.2000 and 3.4400

Expected trend for today: Bullish