Copper price’s trades extended downwards strongly to target 2.5500 level that formed the main station of our recent outlooks, while the price might be forced to form some sideways fluctuations until breaking the current barrier followed by attempting to break new negative levels by moving towards 2.4750.
We will depend on 2.7000 level forming new resistance to hint that stochastic consolidation within the oversold areas will assist to provide the negative momentum to confirm the continuation of the negativity for the upcoming trading.
Expected trading range for today is between 2.6550 and 2.4750
Expected trend for today: Bearish