Copper price received extra positive momentum yesterday by stochastic rally to 80 level, accompanied with our bullish expectation, to notice its rally to the target at $4.8900, which forms an important barrier against resuming the bullish scenario.

 

The price keeps forming mixed sideways trading until achieving the current barrier, to open the way towards recording extra gains that might extend to $5.030, while the failure will increase the chances for activating the bearish correctional track, which might force it to decline towards $4.7500 reaching the extra support at $4.660 level.

 

The expected trading range for today is between $4.7700 and $4.9600

 

Trend forecast: Bullish