Copper prices have started to exhibit negative momentum, maintaining stability below the $4.2000 resistance level. This reinforces the likelihood of further downward movement, in line with previous expectations.
Additionally, the 55-period Moving Average (MA55) is approaching the key barrier, further confirming that the price action is likely to remain within the negative trajectory. The next targets are seen at $4.0000 and $3.9300 levels.
The expected trading range for today is between support at $3.9300 and resistance at $4.2000.
Trend Forecast: Bearish
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