Copper price lost the positive momentum yesterday by stochastic stability below 80 level, which forces it to provide weak sideways trading by its fluctuation near $5.5000 level, without recording any new positive target.

 

Note that the price activated the attempts of gathering the gains by the continuation of facing negative pressures, which forces it to press on the support near $5.3200, and breaking it will force the price to decline towards $5.1500 and $4.9800, while renewing the bullish attempts requires forming a strong bullish rally, to settle above $5.600.

 

The expected trading range for today is between $5.1500 and $5.600

 

Trend forecast: Bearish