Copper price renews the sideways fluctuation – Analysis – 21-5-2019

Copper price still affected by the strength of 2.7200 support line, to force the price to form new sideways fluctuation with chances of providing positive rebound in the upcoming period, while in general, the main bearish overview will remain valid unless breaching 2.8350 barrier, which is supported by the consolidation of the moving average 55 around it.

We remind you that succeeding to decline below the current support and providing negative close will confirm the preparation to resume the bearish attack and move towards 2.6500 followed by reaching 2.5370.

The expected trading range for today is between 2.7700 and 2.7200

The expected trend for today: Sideways