Commodities

Copper price awaits the positive momentum – Analysis – 18-1-2022

2022-01-18 06:16:01 GMT (Economies.com)

No news for copper price until this moment, to continue fluctuating within sideways range due to the lack of the positive momentum, also, the contradiction between the moving average 55 that settles near 4.3500 support line against stochastic negativity confirms the domination of the sideways trades, to expect confining trades between the current support and 4.4700.

 

On the other hand, gathering the positive momentum will allow the price to form strong bullish waves to attempt to achieve more positive targets that might start at 4.5200 and 4.6200 levels.

 

The expected trading range for today is between 4.3500 and 4.4700

 

The expected trend for today: Bullish

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