Copper price continues the positive move– Analysis – 23-5-2022

Copper price kept forming positive moves due to its stability above 4.2000, besides providing positive momentum by stochastic, hitting 4.3200 level, we expect the price reach to the main resistance at 4.400, to form a strong obstacle against the positive attempts, which increases the chances for renewing the negative attempts in the upcoming period.

While the price success to reach below 4.2000 level, so that will confirm regaining the bearish bias, to increase the chances for forming strong bearish waves in order to reach the main stations that are represented by 4.1000 and 3.9300.

The expected trading range for today is between 4.2200 and 4.4000

The expected trend for today: Bullish temporarily