Copper remains in negative range 20/5/2013

Copper trading continued below 3.3700 which forms the neckline of the double top pattern which is supported by the EMA50, keeping our expectation to reach bearish levels around 3.1700 – 3.1250 reaching to 3.000.

Carefully note that in spite of the negative bias domination on the trading, the price effects currently now with sideways bias due to the contradiction between the general bias and Stochastic which provides bullish signals to get new negative momentum to achieve the suggested targets.

Expected trading range is between 3.1700 and 3.3250

Expected trend: bearish.