Copper price reached the initial corrective target at $5.6200, to begin forming new bullish waves, taking advantage of providing bullish momentum by stochastic, the price might begin building some bullish waves, depending on forming initial main support at $5.5100 level, which increases the chances of surpassing the barrier at $5.9700, then achieving new all time highs by its rally towards $6.1200 and $6.2100.

 

While the price declines below $5.5100 and holding below it will force it to provide bearish corrective trading, which forces it to suffer extra losses by reaching $5.3900 initially.

 

The expected trading range for today is between $5.6500 and $5.9700

 

Trend forecast: Bullish