Copper price is under strong bearish pressure to push it to decline below the support at $5.3200, to lose most of its previous gains to reach $4.3900, to face the moving average of 55.

 

Despite the main stability within the main bullish channel’s levels, the contradiction between the main indicators may increase the chances for suffering extra losses by targeting 161%Fibonacci extension level at $4.2650, while renewing the bullish attempts requires stepping above $4.7400 level, providing chance for recording gains again.

 

The expected trading range for today is between $4.2600 and $4.5200

 

Trend forecast: Fluctuated within the bullish track