Copper Price Consolidation Holds Steady Above Support

by Yuki

The copper market has maintained its position above the critical $4.3500 support line. This stability, bolstered by the MA55, has prevented a shift towards a negative trajectory for now.

Additionally, the stochastic indicator’s efforts to move out of oversold territories are expected to generate the necessary positive momentum. This momentum could renew bullish attempts, potentially driving prices to the $4.5500 level in the near future, and eventually aiming for $4.6800. It is crucial for prices to stay above the $4.3500 support to sustain this upward movement.

Expected Trading Range

Copper prices are anticipated to trade between the $4.3000 support and the $4.5500 resistance levels.

Related topics:

Freeport Indonesia Launches $3.7 Billion Copper Smelter in East Java

Copper Prices at Crossroads Amidst Market Uncertainty

Copper Futures Dip on Strong Dollar, But Set for Weekly Gain on Demand

Related Articles

blank

Welcome to sorafutures futures portal! Here, we illuminate pathways to tomorrow’s opportunities, equipping you with insights and resources to thrive in an ever-evolving world. With a blend of vision and pragmatism, we empower individuals to navigate uncertainties and seize their future with confidence.

Copyright © 2023 sorafutures.com