Copper price begins to decline – Analysis – 17-9-2019
Economies.com
2019-09-17 06:43AM UTC
Copper price confirmed its affection by the bearish bias domination, to notice its bounce negatively after facing the resistance at 2.6700, and the stability of the moving average 55 above the current trading increases the negative pressures, to expect reaching below 2.6000 level and targeting 61.8% Fibonacci correction level at 2.5500.
Stochastic surpass to the overbought level and its reach below 50 level supports our negative suggestion by providing a new negative momentum, to increase the chances for resuming the suggested negative attack.
The expected trading range for today is between 2.6200 and 2.5500
The expected trend for today: Bearish
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