The copper price recently saw a bearish bounce from the $4.7000 mark in previous sessions, coming under intraday pressure that suggests a continuation of downward movement. Analysts anticipate a bearish bias targeting a primary support level around $4.3380.
Technical indicators, notably Stochastic, are signaling negativity, reinforcing expectations of further declines. This bearish outlook remains valid unless there is a significant rally above $4.7000 with sustained support at that level.
Today’s anticipated trading range is expected to fluctuate between $4.4000 and $4.6500, reflecting ongoing market volatility and sentiment shifts.
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