The intraday negative pressure increased on copper price trading due to stochastic attempt to exit from the overbought level, which forces it to settle below $5.9700, forcing it to form corrective waves by reaching $5.7900.

 

The price might decline towards the initial support at $5.7500 by the continuation of the negative pressure will increase the chances of breaking this support, to expect targeting extra corrective stations that begin at $5.6300 and $5.5100, while its success to step above $6.000 will open the way for recording new historical gains by its rally towards the bullish channel’s resistance at $6.1800.

 

The expected trading range for today is between $5.6300 and $5.9700

 

Trend forecast: Bearish