Copper price holds above the support – Analysis – 13-2-2019

Economies.com
2019-02-13 08:51AM UTC

Copper price ended its last fluctuation by providing a positive close above the bullish channel’s support at 2.7560, confirming its commitment with the bullish attempts, the price needs a new positive momentum that allows it to renew the pressure on 2.8460 barrier, and surpassing it will make the price succeed to record several positive targets that begin at 2.9400 and 3.0300.

 

Note that the price attempt to reach below the current support will confirm its surrender to the bearish bias domination by exiting the positive track, to expect targeting 2.7300 level initially reaching to 2.6600.

 

The expected trading range for today is between 2.7600 and 2.8400

 

The expected trend for today: Bullish

 

Commodities News

Gold News

Commodities

Gold hits fresh record highs, marking a 6% quarterly profit
2024-03-28 20:28PM UTC
Gold Prices Gold prices rose on Thursday to fresh record highs while the dollar eked out gains ...
Copper News

Commodities

Copper edges up while facing pressures from Chinese demand concerns
2024-03-28 16:45PM UTC
Copper prices rose modestly on Thursday while the dollar gained ground, with ongoing concerns about ...
Oil News

Commodities

Oil prices extend gains after strong US growth data
2024-03-28 13:03PM UTC
Global Oil Prices Global oil prices extended their gains in American trade on Thursday and hit ...

Commodities Technical Analysis

Oil Analysis

Commodities

End of day crude oil price forecast update - 28-03-2024
2024-03-28 17:43PM UTC
Crude oil price breached 82.40$ strongly to rally upwards and approach our waited target at 83.56$, ...
Gold Analysis

Commodities

End of day gold price forecast update - 28-03-2024
2024-03-28 17:43PM UTC
Gold price rallied upwards strongly to succeed touching our waited target at 2222.86$ and attempts ...
Brent oil Analysis

Commodities

Brent oil price forecast update 28-03-2024
2024-03-28 10:19AM UTC
Brent Oil Price Analysis Brent oil price fluctuates within tight track since morning, settling ...