Copper

[Samirofi]

Copper looks for negative momentum 18/11/2013



Copper achieves 3.1300 in its last trading affected by the negativity of the trading which settles below the broken support level around 3.2000, to keep the negativity in the upcoming trading if the broken level settled to achieve 3.0800 as an initial target.


We notice the stability of Stochastic in positive level above 50 level attempting to gather new negative momentum to continue in expecting the negativity in the near period.

Expected trading range is between 3.1800 and 3.0800

Expected trend for today: bearish

[Samirofi]

Copper keeps providing negativity 19/11/2013



Copper gained negative momentum by Stochastic decline towards 20 level to record 3.1100, which pushes us to hold the bearish bias in the upcoming period to achieve the initial target level near 3.0800, as breaking it will add more negative pressure to achieve 3.000 as a main target for the bearish bias.


The stability of the moving average around the main resistance at 3.2000 confirms the bearish trend domination on copper trading in the upcoming period.


Expected trading range is between 3.1400 and 3.0000

Expected trend for today: bearish

[Samirofi]

Copper waits the negative momentum 20/11/2013



Copper fluctuates in negative level, limited between 3.1100 and 3.1600 and waiting for gaining new negative momentum to achieve more of the negative levels in the upcoming period , the stability of the broken support level near 3.2000 supports the continuation of the bearish scenario to remain waiting for achieving the initial target around 3.0800


Stochastic settles near 20 level without reaching the oversold level which might support the price fluctuation until gathering the required negative momentum

Expected trading range is between 3.1800 and 3.0800

Expected trend for today: bearish

[Samirofi]

Copper trades within tight range 21/11/2013



Copper price showed narrow trading to notice that the trading is limited yesterday between 3.1300 and 3.1700, while the price sideways move is affected by stochastic positivity which attempts to get the negative momentum to head towards the previously mentioned targets.

Therefore, we expect the continuation of the sideways trading for today and the price to keep the negative bias as long as the 3.2000 resistance remained intact.


Expected trading range is between: 3.1800 and 3.0800

Expected trend for today: Bearish

[Samirofi]

Copper gains some positivity 22/11/2013



Copper price gains slight positivity to settle around 3.1800 keeping its stability in general below the 3.2000 resistance line, which allows us to keep the expected bearish bias in the upcoming period to target 3.0800 as an initial target.

Stochastic breaches 50 level to add more positive pressure on copper price, which supports the continuation of the sideways bias in the coming period until getting new negative momentum to support heading towards the waited target.

Expected trading range is between: 3.1800 and 3.1100

Expected trend for today: Bearish

[Samirofi]

Copper is facing the resistance level 16/12/2013



We notice from the above chart that copper price hit 3.3310 level, which forms a new resistance level against the positive trading, which might push the price to settle in bearish bias conditioned by the stability of 3.3300 level, and to resume the positivity, we need to breach above the mentioned level to reach 3.3800 followed by heading towards 3.4700 in the upcoming period.

Therefore, we expect witnessing fluctuating trading for today to be limited between the resistance line and 38.2% Fibonacci level around 3.2800 until the price breaches one of these levels.

Expected trading range is between: 3.2800 and 3.3300


Expected trend for today: Fluctuations, as long as the resistance level remains intact

[Samirofi]

Copper shows weak trading 23/12/2013



Copper keeps its positive trading by settling within the bullish channel, but we notice the weakness of the trading which pushes on the trading to move in sideways range without achieving any expected level due to the contradiction of Stochastic -which settles negatively- and the positivity of the trading until this moment, in general, we remain waiting for achieving 3.3700 as a positive target if the main support of the channel settled around 3.2800

The moving average positivity keeps supporting our positive expectation for the near trading if it settled below this level as appears in the above image.

Expected trading range is between 3.3000 and 3.3800

Expected trend for today: bullish

[Samirofi]

Copper keeps the positivity 24/12/2013



Copper remains stable within the bullish channel level to make us keep our previous expectation to achieve 3.3800 as an initial positive target if the support level settled at 3.2800, in spite of the sideways trading recently, but the indicators continue providing positive momentum, as Stochastic heads to settle in the overbought level by breaching 80 level, also the moving average provides a positivity by settling around the bullish channel’s support.

Expected trading range is between 3.3100 and 3.3700

Expected trend for today: bullish

[Samirofi]

Copper couldn’t achieve new levels 9/1/2014



Copper price still looking for the positive momentum which supports the bullish channel, to notice the stability of the trading since yesterday around the moving average 55 at 3.3500, and notice the limitation of the price between 3.3800 and the channel’s support level which is located near 3.3350

Therefore, we expect forming a sideways bias due to the negativity of Stochastic which pushes reversely of the trading by settling below 50 level as appears in the above image.

Expected trading range is between 3.3300 and 3.3800

Expected trend for today: sideways

[Samirofi]

Copper remains positive 13/1/2014



In spite of copper fluctuation recently, but we notice that the price remains stable within the bullish channel as appears in the above image, which pushes us to return to the bullish expectation in the near period to achieve the resistance level around 3.5100 for today if the main support level which is located near 3.1800 Stochastic attempts to provide the required positive momentum by breaching above 50 level which pushes the price to form bullish wave in the near period to achieve the suggested target. Expected trading range is between 3.3300 and 3.4800 Expected trend for today: sideways