Copper

[Samirofi]

Copper leans on the moving average 16/7/2013



Copper price fluctuates within tight range recently to settle positively above the moving average 55 as shown in the image, therefore, we continue to expect more positivity to reach 3.2500 level

Stochastic supports our overview by forming bullish wave that allows it to surpass 50 level to support the bullish bias domination in the upcoming period.

Expected trading range is between: 3.1100 and 3.2500

Expected trend for today: Bullish

[Samirofi]

Copper has indicators contradiction 25/7/2013





Copper price continues to show slow trades due to the contradiction between stochastic –that settles negatively- and the trading which is holding above the moving average 55, which supports the positive trading until now, therefore, we expect more sideways trading until stochastic agrees with the intraday bullish bias to reach 3.2500

From that, we expect trading to be limited between 3.1500 and 3.2500 in the upcoming period until confirming building bullish bias by breaching 3.2500 level.

Expected trading range is between: 3.1500 and 3.2300

Expected trend for today: Bullish, conditioned by holding above 3.1500

[Samirofi]

Copper holds below the resistance 5/8/2013



Copper price continues to be affected by stochastic positivity to reach 3.1900 recently, and we notice the steadiness of the bearish channel’s resistance at 3.2100 to keep the domination of the bearish bias, therefore, we expect the continuation of fluctuation within the bearish channel until getting the negative momentum to reach 3.0700 in the near term.

The moving average supports our bearish overview by settling around the resistance line.

Expected trading range is between: 3.2000 and 3.0700

Expected trend for today: Bearish

[Samirofi]

Cooper achieves gains 8/82013



Copper breached the previous resistance level around 3.2000 to gain some positivity by settling around 3.2400 as appears in the above chart to settle above the moving average 55, supporting the continuation of the attempt of gaining positivity to visit 3.2800 in the near period.


Stochastic supports the intraday positivity by settling around 80 level, therefore we expect the limitation of the trading between the broken resistance level around 2.200 and the suggested target.

Expected treading range is between 3.200 and 3.2700

Expected trend for today: bullish

[Samirofi]

Copper remains positive 12/8/2013



Copper surpassed the first waited target around 3.2800 to keep attempting to renew the positivity, thus we expect that it will continue in forming bullish waves in the upcoming period to achieve 3.3400 and followed by 3.3700

The stability above the moving average 55around 3.2200, which represents an initial support level for copper price, supports the bullish bias domination in the upcoming period.

Expected trading range is between 3.2500 and 3.3700

Expected trend for today: bullish

[Samirofi]

Copper settles in a positive level 13/8/2013



Copper provides stability above 38.2% Fibonacci – for the decline from 3.7765 to 2.9715- which allows us to confirm that the price get rid of its negativity and settled within bullish level, thus we continue in expecting renewing the positivity to visit 50% Fibonacci around 3.3765 in the upcoming period.

Stochastic settles in the overbought level to support the domination of the bullish bias in the near and medium trading.

Expected trading range is between 3.2710 and 3.3700

Expected trend for today: bullish

[Samirofi]

Copper gains 15/8/2013



The bullish bias affect continued on copper to reach 3.3400 yesterday, to remain waiting to reach 3.3800 level as a main target, conditioned by holding above 3.2800

Stochastic keeps attempting to gain the required positive momentum by leaving the overbought area as shown in the image.

Expected trading range for today is between: 3.2900 and 3.3700

Expected trend for today: Bullish

[Samirofi]

Copper hits the target 19/8/2013



The bullish bias affection continued on copper price move achieving 3.3700 which represents 50% Fibonacci, to notice the price fluctuation since morning in positive level, therefore the bullish bias remains the dominant conditioned by the stability of the support level 3.2800


Stochastic settles in the overbought level waiting for new positive momentum to breach 3.3700 to make the main targets 3.5100

Expected trading range is between 3.3200 and 3.3900

Expected trend for today: bullish

[Samirofi]

Copper fluctuates within Fibonacci levels 20/8/2013



Copper trading formed an intraday negative bias yesterday according to the stability of 50% Fibonacci around 3.3700 recently, to notice that the price declined towards 3.0700 to approach from 38.2% Fibonacci around 3.2800, therefore the continuation of the sideways trading in the near period between the mentioned levels is expected until gaining new positive momentum.

Stochastic provides an intraday bearish wave to surpass the overbought level attempting to gain new positive momentum that keeps the price generally effected by the bullish bias.


Expected trading range is between 3.2800 and 3.3700

Expected trend for today: sideways

[Samirofi]

Copper heads towards the negativity 13/9/2013



Copper declined to settle below 3.2000 in yesterday’s trading achieving 3.1750 and forming a double top pattern as appears in the above image, therefore we expect the continuation of the bearish bias to reach 3.1600 followed by 3.1000 in the near and medium period.

Stochastic supports the negativity by settling below 50 level to support the affection by the bearish bias in the upcoming period.

Expected trading range is between 3.2200 and 3.1600

Expected trend: bearish