Copper Price: Bullish Momentum Sustained Above Key Support Levels

Copper prices have managed to withstand recent downward pressures, achieving a notable uptick and closing positively above the critical support level of $4.3500. This development signals a continuation of the bullish trajectory suggested earlier, with indications of bullish waves beginning to form around the $4.4000 mark. The stochastic momentum oscillator has also turned positive, bolstering the likelihood of targeting the initial resistance at $4.5500. Further upward momentum could potentially extend trades towards the subsequent target of $4.6800.

Conversely, a reversal below the current support level would prompt a corrective bearish outlook. This scenario could lead to potential declines, possibly initiating a downward crawl towards support zones at $4.1500 and $4.0200.

Expected Trading Range:

The anticipated trading range is between the support level of $4.3300 and the resistance level of $4.5500.