Copper price approached the initial corrective target yesterday at $5.6500, to confirm delaying the attempts to resume the bullish trend due to its stability at $5.9700, besides providing negative momentum by its continued leaning below 80 level as appears in the above image.

 

Therefore, we will keep preferring the temporary negative attempts, which might target $5.6200 and $5.5100, while regaining the bullish trend requires a positive close above the mentioned barrier, to reinforce the chances of recording new historical gains that might begin at $5.6200 and $5.8500.

 

The expected trading range for today is between $5.6200 and $5.8500

 

Trend forecast: Bearish