Copper Prices Show Sideways Movement Amid Market Contradictions

by Yuki

Copper prices experienced sideways trading on Tuesday, influenced by conflicting signals in the market. The stochastic indicator exhibited negative trends, while the 55-period moving average (MA55) attempted to establish additional support at the $4.2900 level.

Market analysts anticipate that this sideways trend will persist, with the possibility of testing the $4.2500 mark. Should prices manage to gain positive momentum, they could initiate a bullish trend aimed at reaching the $4.4500 level. A successful breakout above this resistance could lead to further gains, potentially pushing prices towards $4.5300 and $4.6900.

For today, the expected trading range for copper is between $4.2500 and $4.4000.

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