Copper price activated again with the positivity of the main indicators, forming more bullish waves, approaching $5.9700 level which formed strong obstacle against confirming the continuation of the positivity in the last period.

 

We recommend waiting for breaching the barrier and holding above it to reinforce the chances of recording new gains, to expect forming initial target at $6.1200 level, to extend the trading towards $6.2400, while the failure of the breach will force the price to form bearish corrective wave, and there is a chance to target $5.7200 and $5.5100 level.

 

The expected trading range for today is between $5.8000 and $6.1200

 

Trend forecast: Bullish