Copper price gathers the negative momentum – Analysis – 11-10-2018

Copper price succeeded to gain the negative momentum yesterday, to notice resuming the negative attack by reaching 2.7350, and the stability of the moving average 55 above the price trading increases the negative pressures, to return to prefer the negative attempts that target 2.7000 reaching to 2.6200 level in the upcoming period.

Stochastic reach to the oversold level reinforces the negative attempts by providing extra momentum that increases the chances for renewing the negative attempts until reaching the mentioned targets.

Expected trading range for today is between 2.7800 and 2.7000

Expected trend for today: Bearish