Copper prices have encountered strong resistance at the $4.6900 level, triggering a corrective bearish rebound. This movement suggests potential profit-taking, with the price expected to target the $4.5200 level.
The stochastic indicator exiting the overbought region adds to the negative pressure on copper, increasing the likelihood of further corrective waves. As a result, the price may test lower levels, with potential targets at $4.4600 and $4.4000.
For today, the expected trading range for copper is between $4.4600 and $4.6400.
Trend Outlook: Bearish
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