Copper price gathers its negative strength – Analysis – 13-8-2018

Copper price hinted keeping the bearish bias domination to notice gathering new negative momentum recently and approaches 2.700 level that formed an obstacle against the negative attack, while avoiding any fluctuation that might lead to unexpected losses requires waiting to break this level followed by achieving new negative targets by moving towards 2.6200 followed by reaching 61.8% Fibonacci correction level at 2.5500.

Stochastic reinforces the negative overview by declining below 50 level to increase the negative pressures until achieving the required break and start recording the suggested targets.

Expected trading range for today is between 2.7800 and 2.6200

Expected trend for today: Bearish