Copper Prices Gain Momentum Amid Positive Market Signals

by Yuki

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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