Copper price jumps above the moving average – Analysis – 22-10-2018

Copper price succeeded to surpass the moving average 55 to get rid of the correctional bearish bias domination, to notice recording 2.8020, while the major indicators agree to provide the positive momentum to allow us to suggest more bullish attempts, to manage to achieve the positive targets at 2.8500 followed by reaching 2.9100 extended resistance.

Stochastic rally towards the oversold areas to form the main factor to confirm the positivity by providing strong positive momentum and increase the chances of reaching the previously suggested positive levels.

Expected trading range for today is between 2.7500 and 2.9100

Expected trend for today: Bullish