Copper price tends to renew the negativity – Analysis – 8-3-2021

Copper price still stable below 4.1200 resistance until this moment, to keep the suggested correctional bearish scenario, while stochastic fluctuation near 20 level supports the negative overview by providing the negative momentum, allowing us to wait to reach 3.8810 level, while surpassing it might extend the intraday losses towards 3.5300.

On the other hand, getting a positive close above the mentioned resistance will cancel the negative overview and provide chances to regain the bullish bias, to expect moving towards 4.4100 as a first positive target for the bullish track.

The expected trading range for today is between 4.1200 and 3.7500

The expected trend for today: Bearish