Copper price attempts to recover – Analysis – 16-9-2021
Economies.com
2021-09-16 05:23AM UTC
Copper price provided positive trades yesterday to settle above the bullish channel’s support line, to hint the attempt to regain the main bullish trend, but it needs to breach 4.4585 to confirm the continuation of the rise.
Therefore, we prefer to stay neutral until the price confirms breaching the mentioned resistance or breaking 4.3285 support, noting that breaching the resistance will push the price to achieve gains that start at 4.6350, while breaking the support will press on the price to start correctional bearish wave that targets 4.1500 followed by 4.0685 initially.
The expected trading range for today is between 4.1500 and 4.6000
The expected trend for today: Neutral
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