No news for copper price – Analysis – 8-6-2023

Despite copper price stability within the bullish channel that depends on the consolidation of 3.5800 support line, in addition to 3.7000 level attempt to form additional support, that didn’t assist to record any new positive target, due to the lack of the positive momentum until this moment, to for sideways fluctuation near 3.7500.

We expect to continue forming weak sideways trades until succeeding to gain the additional positive momentum to manage to activate the bullish track by moving towards 3.8500, while surpassing it might extend trades strongly towards the additional stations near 3.9250 and 4.0200.

The expected trading range for today is between 3.7000 and 3.8500

The expected trend for today: Bullish