Copper price began receiving bullish momentum by stochastic approach from 50 level, reinforcing the positive stability within the bullish track, besides the continuation of forming extra support at $4.7500 level.

 

We expect target $5.2000 barrier, surpassing it will lead to form new bullish waves to target more positive stations that begin at $5.3200 and %161.8 Fibonacci extension level near $5.5000.

 

The expected trading range for today is between $4.9800 and $5.2000

 

Trend forecast: Bullish