Copper price attempted to settle above the initial support at $5.9700, however the continuation of the main indicators’ contradiction pushed it to form new sideways fluctuation to settle near $6.0300.

 

The continuation of forming an obstacle at $6.1200 level against the bullish attempts will increase the chances of forming bearish corrective waves, to increase the chances of reaching $5.8900 and $5.8200, while breaching the barrier and holding above it will the way for resuming the bullish attempt, to reach $6.2500 initially.

 

The expected trading range for today is between $5.8900 and $6.1200

 

Trend forecast: Bearish