Even as copper prices try to hold their ground above the $5.00 barrier yesterday, a host of negative factors are emerging, as the Stochastic exited overbought levels, while $5.1700 is forming as an important barrier, thus curbing gains.

 

The price will likely engage in sidewaya trading, while a drop below $5.00 would activate the negative correctional path towards $4.8900, however, a resumption of gain requires a breach of $5.1700.

 

Expected trading range today is between $4.9000 and $5.1100.

 

Today’s price forecast: Correctional bearish