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Copper prices experienced a decline, reaching the initial target of $4.0250 and settling near this mark. Technical indicators suggest that momentum remains bearish, with expectations to breach this level and target the 38.2% Fibonacci retracement at $3.9200.
However, should prices fail to break below the current support, they might trade sideways and could test the resistance at $4.1500 before potentially reaching the projected negative target.
Today’s anticipated trading range for copper is between $3.9300 and $4.1000.
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