Copper prices remain volatile, hovering around the 55-period moving average (MA55) at $4.0250, as the market seeks to build positive momentum. This attempt aims to mitigate the recent negative trend and recover some of the recent losses.
The price’s ability to maintain levels above $4.000, coupled with positive signals from the stochastic indicator, suggests a potential for bullish movement. Should these conditions hold, the price could target $4.1500, with further resistance at $4.2100. However, a dip below the $4.000 mark and a sustained move beneath this level could reignite downward pressure, potentially pushing prices toward the $3.9300 level.
For today, analysts predict copper prices will trade within a range of $4.000 to $4.1500.
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