2
Copper prices have been fluctuating around $4.1500, showing resistance to negative trading despite ongoing market contradictions. The stochastic indicators are signaling positivity, while the 55-day moving average (MA55) is attempting to create a barrier by hovering near $4.2300.
Current conditions suggest that the persistent negative stability below the $4.3200 resistance level may lead to a resurgence in negative momentum. This could potentially facilitate a break below the $4.0250 support level, setting the stage for further declines towards $3.9000 and $3.7700.
For today, the anticipated trading range for copper is between $3.9800 and $4.1800.
Related topic: