Copper price failed to confirm its stability above$5.5100 level, after facing new resistance near $5.6200 level, which forces it to end the bullish attempts and return to fluctuate near $5.5100 again.

 

The stability below the current resistance makes us wait for gathering the negative momentum, to begin forming strong bearish waves, to reach $5.2700 to attempt to press on $4.9500 barrier.

 

The expected trading range for today is between $5.2700 and $5.6200

 

Trend forecast: Bearish