Copper Prices Remain Stagnant Amid Key Support and Resistance Levels

by Yuki

Copper prices have shown little movement recently, remaining trapped between a resistance level of $4.3900 and a support level at $4.2600. As of the latest trading session, copper settled at $4.3100, continuing to exhibit weak sideways trading patterns.

The current market indicators present a contradictory view, prompting traders to closely monitor price movements. A decline below the support level could signal a negative trend, potentially leading to significant losses with a target of $4.1600. Conversely, if copper manages to break above the resistance level and maintains its position, it could regain a bullish momentum, aiming for initial targets of $4.5400, followed by $4.6900.

For today, the anticipated trading range for copper prices is expected to fall between $4.2600 and $4.3900.

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