Scenarios and Trading Range Expected Scenarios Copper price closed below the bullish channels resistance at 4.6800$ yesterday. Stochastic attempted to exit the overbought areas. To hinder the attempts to resume the rise, a correctional bearish rebound was noticed by settling near 4.5200$.

This confirms postponing the bullish attack, increasing the chances of resuming gaining profits and crawling towards 4.4200$ level, followed by reaching the additional support at 4.3000$.

If the resistance is breached and held above, it will reinforce the attempt to resume the bullish attack, expecting to target the 4.8000$ level initially.

Trading Range The expected trading range for today is between 4.6700$ and 4.4000$.

Trend Forecast Bearish