Copper price continues to decline – Analysis – 24-6-2022

Copper price kept its negative stability to continue providing the negative trades, approaching 61.8% Fibonacci correction level at 3.6800, while the negativity is caused by the stability of 3.9300 barrier, in addition to stochastic consolidation within the oversold areas, to increase the negative pressures on the upcoming trades.

Note that succeeding to break 3.6800 and holding below it will reinforce the continuation of the negativity, to open the way to target new negative stations that might start at 3.5300.

The expected trading range for today is between 3.8200 and 3.6300

The expected trend for today: Bearish