Copper price didn’t move any thing until this moment, announcing its surrender to the dominance of the sideways bias temporarily until ending the contradiction between the main indicators, reminding you that the bullish scenario will remain valid, depending on the stability of the bullish channel’s support at $4.0500, besides the continuation of forming extra support at $4.2600 level, reducing the chances for suffering any extra losses.

 

While the price success in gaining the positive momentum will provide chance to begin achieving some gains, to expect its rally to $4.6300 initially, attempting to step above 100%Fibonacci correction extension level at $4.7500, to open the way for recording more of the gains in the upcoming period trading.

 

The expected trading range for today is between $4.2600 and $4.6300

 

Trend forecast: Bullish