Copper price ended the last corrective decline by reaching the target at $5.8100, forming an obstacle against the negative trading, to notice its sideways fluctuation near $5.8500.

 

The contradiction of the main indicators might reduce the chances of forming bullish waves, specifically by forming extra barrier at $5.9700 level, while providing negative momentum by stochastic might push the price to break $5.8100 level, which forces it to suffer extra losses that might extend towards $5.7000 and $5.5900.

 

The expected trading range for today is between $5.7000 and $5.9100

 

Trend forecast: Bearish