Copper Price Analysis
Expected Scenario
- The Copper price ended the recent bullish rally by touching 4.5400$ level followed by forming correctional bearish rebound, affected by stochastic exit from the overbought areas, to lose the required positive momentum to resume the bullish attempts.
- The continuous negative pressures might force the price to provide new correctional bearish trades to expect targeting 4.3050$ level before achieving any new positive target, while succeeding to gather the positive momentum and providing new close above 4.5400$ will ease the mission to reach the positive station near 4.6400$ and 4.7800$.
Expected Trading Range
Between 4.5100$ support and 4.3000$ resistance.
Trend Forecast: Bearish