Copper Prices Under Pressure Amidst Stochastic Negativity

Copper prices continue to be impacted by persistent stochastic negativity, leading to new negative closings below the $4.3900 mark. This decline could push prices toward the 55-day moving average (MA55), with fluctuations expected around $4.3100.

Ongoing negative pressures may drive prices to breach the support level at $4.2600, potentially initiating a corrective bearish trend that could see further losses at $4.1600 and $4.0500. However, if prices manage to break above this barrier, a bullish trend could resume, targeting an initial goal of $4.4800.

The anticipated trading range for copper today is set between $4.2000 and $4.3600.

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