Copper Price Analysis
Expected Scenario
The price of copper has maintained its stability above the $4.3500 support line, reaffirming the previously suggested bullish trend. However, the lack of positive momentum has resulted in more sideways trading, with the price fluctuating around $4.4200 without reaching any new highs.
The stochastic indicator’s exit from the overbought areas may help generate the positive momentum needed to activate a bullish attack, targeting levels of $4.7700 and $4.8600 in the near future. Conversely, a decline below the current support level could lead to new correctional bearish trades, potentially causing additional losses toward $4.2200 and $4.1500.
Expected Trading Range
- Support: $4.4000
- Resistance: $4.7700
Trend Forecast: Bullish
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