The bearish trajectory of copper prices remains unchanged, as it continues to stabilize below the $4.7000 resistance line, recently reaching down to $4.4600.
Currently, stochastic indicators suggest potential for increased negative momentum, enhancing the likelihood of targeting further downside levels, potentially extending towards the main target at $4.3200 in the near term. It’s important to note that a break below this support could signal a continuation of negative trends in the upcoming period.
Today’s expected trading range is forecasted between $4.3200 and $4.6000.
Trend Forecast: Bearish
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