Copper price provides sideways trades – Analysis – 18-8-2022

Copper price didn’t record any new positive level, affected by the contradiction between the indicators, providing new sideways trades by consolidating near the additional support at 3.5000, while the stability of this support will provide the price with motive to start forming bullish waves, to target some positive stations that might start at 3.8500.

On the other hand, facing new negative pressures and crawling below the current support will postpone the bullish attack to suffer some losses by crawling towards 3.3800 followed by reaching 61.8% Fibonacci correction level at 3.1300.

The expected trading range for today is between 3.5000 and 3.8500

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The expected trend for today: Bullish