Copper price opened this morning with a positive price gap, announcing its affection by strong positive pressure to reach 61%Fibonacci correction level at $4.8100, which formed an important strong barrier against the bullish trading.

 

Note that the continuation of providing positive momentum by the main indicators might assist to breach the current barrier, to expect reaching the previously achieved top near $4.8900, and surpassing it will confirm moving to a new positive station, and $5.0350 level represents the next main target in the bullish trading.

 

The expected trading range for today is between $4.7600 and $4.8900

 

Trend forecast: Bullish