Copper price reduces the attack’s sharpness – Analysis – 24-9-2018

Copper price began taking breath after achieving its initial target at 2.8700 attempting to gather a new positive momentum in the upcoming period, the stability of the support at 2.7800 confirms the continuation of the positivity to expect reaching 2.9300 in case gaining the required momentum, to press on 23.6% Fibonacci correction level at 2.9920.

Stochastic attempt to surpass the overbought level might force the price to provide some sideways trading in the current period with a possibility to hit 2.8000 level before resuming the main bullish attack.

Expected trading range for today is between 2.8000 and 2.9300

Expected trend for today: Bullish