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Copper prices are experiencing upward momentum, driven by several favorable factors that have temporarily staved off negative trading. The metal is currently facing strong resistance at the $4.3200 mark, with a settlement above $2.2600 indicating the potential formation of a double bottom pattern. This could lead to a breakthrough of the resistance level and subsequent targets of $4.4100 and $4.5200.
The combination of these encouraging factors, alongside sustained positive signals from major market indicators, supports a bullish outlook for trading strategies moving forward.
Today’s anticipated trading range for copper is set between $4.2700 and $4.4100.
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