Copper price confirms the negativity– Analysis – 10-5-2022

Copper price formed a new bearish wave by its decline below the barrier at 4.1800, to notice recording 2.1000 level, forming a temporary rebound in order to gather an extra negative momentum in the current period trading.

Reminding you that the negative track will remain valid depending on the stability of the resistance at 4.3600, the unionism of the main indicators and providing negative momentum makes us keep the negative expectations until reaching the main stations at 4.0500 and 3.6700 level.

The expected trading range for today is between 4.2600 and 4.0500

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The expected trend for today: Bearish