Copper prices have successfully resumed their bullish rally, achieving the initial target of $4.5500 and consolidating around this level. Analysts anticipate further upward momentum, citing the consistent support of the MA55 near the $4.3300 mark and stochastic indicators trending towards overbought levels.
Market observers suggest a continuation of the bullish trend, eyeing the next significant resistance level at $4.6900. This level is seen as crucial on technical charts, signaling a potential extension of the current bullish phase.
Expected Trading Range
Analysts project a trading range between $4.4200 and $4.6500 as copper prices continue their upward trajectory.
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