Copper price resumed its bullish rally, to notice its approach from $4.5600 this morning, which represents 50%Fibonacci correction level for the last decline, which began from the top at $5.3200.

 

Note that the continuation of copper’s price stability below $4.5600 level as an important barrier might push it to delay the bullish attack, and providing new negative trading, to target $4.4300 and $4.3200, while breaching the barrier and holding above it will reinforce the chances for recording extra gains that might extend to $4.6800 and $4.7500.

 

The expected trading range for today is between $4.4300 and $4.5600

 

Trend forecast: Bearish