Copper price took advantage of the initial support near $6.1000 by forming positive rebound, to settle near $6.2500 level, attempting to delay the previously suggested corrective trend, the continuation of forming extra barrier at $6.3800 level might force the price to renew the corrective attempts, to press on $6.1000 level breaking it will extend the trading towards $5.5900 reaching $5.8000 level.

 

While surpassing the barrier and holding above it will confirm its readiness to renew the bullish attempts, attempting to reach $6.5400 initially, which might record historical targets by its rally towards $6.7300.

 

The expected trading range for today is between $6.000 and $6.3500

 

Trend forecast: Bearish