Copper prices have gained positive momentum as the stochastic indicator remains above the 20 level, signaling the potential formation of bullish waves. Analysts anticipate a target of $4.3900, supported by the consistent stability above the $4.2600 support line and ongoing positive market pressures. A successful rally could push prices towards the $4.5400 target, with further gains potentially extending to the $4.6900 barrier.
Conversely, if copper prices encounter renewed negative pressures and fall below the aforementioned support level, a correction could ensue. This scenario may lead to additional losses, bringing prices down to the $4.1500 and $4.0200 levels.
Today’s expected trading range for copper is between $4.3200 and $4.4700.
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