Copper price began to form negative trading, depending on the continuation of forming a main barrier at $5.1000 level, approaching the initial correctional target near $4.9100.

 

The continuation of providing negative momentum by stochastic makes us expect forming a new sharp decline, to attempt to reach extra correctional stations that begin at $4.8650 and $4.8100, to confirm that the daily stability below the mentioned barrier is important to avoid any attempt for changing the current trend.

 

The expected trading range for today is between $4.8650 and $5.0000

 

Trend forecast: Bearish