Despite the weakness of copper price’s last trading, the stability below $5.9700 level and providing bearish momentum by stochastic reaching below50 level makes us keep the bearish corrective scenario in the near-period trading, reminding you that the initial targets is located near $5.7200 and $5.5100 level.

 

While breaching the barrier and holding above it will reinforce the chances of forming new bullish waves, attempting to record some extra gains by reaching $6.1200.

 

The expected trading range for today is between $5.5100 and $5.9500

 

Trend forecast: Bearish