Copper price ended yesterday’s trading by forming bullish waves, to settle near the initial barrier at $6.3000 level, affected by the positivity of the main indicators, specifically by stochastic reach to 80 level as appears in the above image.

 

The suggested scenario depends on the upcoming four hours’ close, the stability below the barrier will reinforce the chances of forming bearish corrective trading, to target $6.1200 reaching $5.9500, while breaching the barrier and holding above it will provide a chance for recording some extra gains by its rally towards $6.4800.

 

The expected trading range for today is between $6.1200 and $6.3800

 

Trend forecast: Bearish