Copper prices have remained relatively stable, hovering around $4.1600, as the market continues to exhibit sideways trading patterns. This stability is attributed to ongoing contradictions among key market indicators.
Despite the current indecisiveness, the bullish outlook for copper persists, provided that the support level at $3.9200 holds firm. Additionally, the $4.0250 level is serving as a secondary support against current fluctuations.
These conditions suggest that positive momentum could build up, potentially leading to new bullish movements. If this occurs, copper prices might reach new resistance levels around $4.2400 and $4.3900.
For today, the expected trading range for copper is projected to be between $4.0900 and $4.2400.
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