Copper prices have maintained positive stability above the $4.2600 level, which serves as the neckline of a double bottom pattern. This stability has allowed the price to apply renewed pressure on the resistance line at $4.3400, setting the stage for a potential continuation of bullish trades.
It is advisable to wait for a confirmed breach and a positive close above this resistance to enhance the likelihood of achieving new gains, with targets set at $4.4100 and $4.5200. Conversely, a decline below $4.2600 would invalidate the bullish outlook and could lead to losses, pushing prices towards $4.1500.
The expected trading range for today is between $4.2600 support and $4.4100 resistance.
Trend Forecast: Bullish
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