Copper Prices Face Negative Momentum, Testing Support Levels

Copper prices have experienced a shift in momentum, reinforcing the bearish outlook as the metal consolidates above the $4.20 per pound mark. This movement aligns with the previously identified negative trajectory, with the market remaining under pressure.

The prevailing factors support a continued downward trend, with initial support levels at $4.00, followed by a further dip to $3.93. A breach of the $4.20 barrier, however, could negate the current bearish stance for the time being.

For today, the expected trading range for copper is between $4.00 and $4.17.

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