Copper price began forming corrective wave, moving away from $5.9700 barrier, noticing its fluctuations near the initial target by reaching $5.7000 level.

 

Note that the continuation of providing negative momentum by stochastic stability below 50 level will increase the negative pressure for today, to keep waiting for reaching extra support at $5.5100, to monitor its behavior due to the importance of this support to detect the near and medium period trading.

 

The expected trading range for today is between $5.5500 and $5.8500

 

Trend forecast: Bearish