Commodities

Copper price repeats the negative closes – Analysis – 19-8-2019

2019-08-19 10:05:54 GMT (Economies.com)

Copper price continued providing negative closes below the resistance that is located at 2.6200, to keep its negative stability, therefore, we will keep waiting for forming negative trading, to target several negative levels that begin at 2.5500 reaching to 38.2% Fibonacci correction level at 2.4660.

 

By the above image, we notice stochastic reach below 50 level, to support the negative suggestion by providing extra negative momentum, to ease the mission of reaching the waited negative targets.

 

The expected trading range for today is between 2.6000 and 2.5500

 

The expected trend for today: Bearish

 

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