Copper price lacks the positive momentum – Forecast today – 22-11-2024
2024-11-22 08:02AM UTC
Copper price repeated the weak sideways trades due to the continuous lack to the positive momentum to notice its fluctuation near the MA55 now at 4.0700, noting that 4.2000$ keeps forming obstacle against the bullish attempts, while stochastic crawls towards the oversold areas, which might force the price to test the bullish channel’s support line at 3.8200$.
Succeeding to surpass the obstacle and holding above it will confirm its preparation to form new bullish waves, to target 4.3400$ and 4.4500$ levels.
The expected trading range for today is between 3.9200$ and 4.1500$
Trend forecast: Bullish
