Copper price settled with the bearish corrective track by providing negative closes below the extra barrier at $6.3800 level, fluctuating again near $6.1700 level.

 

The price needs to break the initial support at $6.1000 to resume the negative attempts, opening the way for targeting extra corrective stations that might begin at $5.9500 and $5.8000, while surpassing $6.3800 level and holding above it will increase the chances of forming bullish waves, to expect targeting %100 Fibonacci extension level at $6.5400.

 

The expected trading range for today is between $5.9500 and $6.3000

 

Trend forecast: Bearish