No change for copper price attempts to activate the bearish corrective scenario due to the stability below the barrier at $5.9700 in the last trading, and stochastic exit from overbought level confirms facing intraday bearish pressures, keeping our expectations of targeting $5.6500 level reaching $5.5100 support.

 

While the price return to settle above the barrier and providing positive close will reinforce the chances of resuming the main bullish movement by its rally towards $6.1900 directly, to face the resistance of the bullish channel’s resistance, to monitor its behavior to detect the expected trend in the upcoming trading.

 

The expected trading range for today is between $5.7500 and $5.9500

 

Trend forecast: Bearish