Copper price forced to provide more of the sideways trading, delaying its bullish attempts due to the contradiction between the main indicators by stochastic reach below 50 level, the main stability above the bullish channel’s support at $4.0500, besides the attempt of forming an extra support at $4.2600 level, we will keep our bullish suggestion in the current period trading, to wait for achieving some gains by its rally to $4.6300 reaching the next barrier near $4.7500.

 

Note that breaking the extra support will confirm the chances for providing strong pressure on the mentioned bullish channel’s support, to keep monitoring the price behavior according to this level by detecting the main trend in the upcoming period trading.

 

The expected trading range for today is between $4.2600 and $4.6300

 

Trend forecast: Bullish