Copper in tight level again 15/1/2014
Copper couldn’t breach 3.3800 to return to provide a sideways bias by its limitation between the moving average 55 around 3.2700 and 3.3800 which represents an initial resistance against the bullish trading, therefore we continue expecting the sideways trading for today until gaining new momentum to support achieving the previously suggested targets.
Stochastic returns to build a reversal candlestick by settling below 50 level which supports the sideways trading for today.
Expected trading range is between 3.2700 and 3.3800
Expected trend for today: sideways