Copper Prices Surge Amid Bullish Momentum, Eyeing Higher Targets

by Yuki

Copper prices have recently initiated a new bullish phase, climbing to $4.2070. This upward movement aims to counteract negative signals from key indicators and validate the previously forecasted bullish trend. The ongoing stability above the support level of $4.0250 is critical in confirming this positive outlook, with expectations set on surpassing the initial target of $4.2600 and reaching a subsequent barrier at $4.3900.

However, a shift in the main trend could occur if prices drop below the 38.2% Fibonacci retracement level at $3.9300. Such a decline might lead to further losses, potentially targeting $3.8200 and $3.6800 before any attempt to rebound and achieve positive targets.

For today, the anticipated trading range for copper is between $4.1100 and $4.2600.

Related topic:

How To Invest In Copper Futures?

5 Things To Know Before Trading Copper Futures

How Do Silver Futures Work?

Related Articles

blank

Welcome to sorafutures futures portal! Here, we illuminate pathways to tomorrow’s opportunities, equipping you with insights and resources to thrive in an ever-evolving world. With a blend of vision and pragmatism, we empower individuals to navigate uncertainties and seize their future with confidence.

Copyright © 2023 sorafutures.com