Copper prices have recently fluctuated near additional support at $4.5300, impacted by negative stochastic indicators, which have delayed any efforts to activate a bullish trend for now.
Persistent downward pressure could lead to a potential breach of this current support, driving the price lower toward the $4.4600 and $4.3900 levels. Conversely, for a return to a bullish trend, copper will need to rally strongly, surpassing $4.6800, followed by continued pressure on the $4.8100 resistance.
Today’s expected trading range is between $4.4600 and $4.6200.
Trend forecast: Bearish
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