Copper prices have confirmed the continuation of the previously suggested negative trend by closing below the broken support level at $4.3300. The price is now fluctuating near $4.2160, with the MA55 reinforcing a strong barrier against current trades.
Additionally, stochastic indicators are providing negative momentum by consolidating within the oversold areas. This suggests the potential to surpass the $4.1500 target and head towards new negative stations at $4.0250 and $3.9200.
The expected trading range for today is between $4.3000 resistance and $4.1500 support.
Trend Forecast: Bearish
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