2
Copper prices have maintained a stable position above the support level of $4.2600, despite experiencing weak sideways trading recently. The lack of positive momentum has contributed to this stagnant market behavior.
However, the Stochastic indicator’s approach to the 20 level suggests a potential alleviation of negative pressures, creating opportunities for the price to gain the necessary momentum to surpass the resistance level at $4.3900. If this occurs, prices could extend their gains towards the next significant target of $4.5400.
For today, the anticipated trading range for copper is projected to be between $4.2600 and $4.5400.
Related topic: