Copper Price Analysis
Current Scenario
Copper price has begun to show positive momentum, supported by stochastic indicators and consolidating near the MA55 around the $4.3300 support level. This consolidation strengthens the likelihood of triggering the anticipated bullish move.
Bullish Outlook
It’s important to note that the initial target stands near $4.5500. A successful breach above this level would likely propel the price towards testing the $4.6900 resistance line, which holds the key to determining the next major trend.
Expected Trading Range
- Support: $4.3300
- Resistance: $4.5500
Trend Forecast: Bullish
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