Copper price suffers the indicators’ contradiction – Analysis – 19-10-2018

The major indicators’ contradiction continued to affect Copper price trades, to continue fluctuating below the moving average 55, postponing the main bullish attack, as the stability of 2.7700 and forming an obstacle against the current fluctuations increases the chances of the price decline towards 50% Fibonacci correction level at 2.7000.

On the other hand, succeeding to surpass the current barrier will cancel the correctional bearish overview, to expect gathering new positive momentum followed by attempting to record new positive targets that start at 2.8500 followed by 2.9000.

Expected trading range for today is between 2.7700 and 2.7000

Expected trend for today: Bearish temporarily