Copper price continues to hold to the bearish corrective scenario, posting some downward corrective trades and settling near the $6.2400 level. We reiterate the importance of the price gathering additional negative momentum, which would strengthen the chances of attacking the support level at $6.1000 soon. A break below this level would open the way toward further corrective targets, starting at $5.9200 and then $5.8000.

 

On the other hand, the possibility of a renewed bullish move remains valid if the price succeeds in breaking above the $6.6000 level and maintaining stability above it. This would pave the way toward notable positive targets, beginning at $6.7300 and then $7.0000.

 

 

The expected trading range for today is between $6.1000 and $6.4200

 

 

 

Trend forecast: Bearish