The price of copper exhibited clear negative movement yesterday, gradually nearing the anticipated target of $4.3380. This reinforces expectations for a continuation of the bearish trend, with analysts noting that a breakthrough below this level would solidify the formation of a negative pattern, potentially targeting further declines towards $4.0000 and subsequently $3.6600 in the short term.
The sustainability of the bearish momentum hinges on the price remaining below $4.7000. A breach above this threshold could prompt a recovery phase, potentially targeting gains up to the $5.0000 area.
Today’s expected trading range is projected between $4.3000 and $4.5500.
Trend Forecast: Bearish
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