Copper prices have maintained stability near the $3.9200 support level, lacking momentum towards higher targets amidst conflicting technical indicators. The stochastic indicator indicates ongoing negative pressures, approaching oversold conditions once more.
Market sentiment remains cautious, with a preference for neutrality until a breakthrough beyond key thresholds, specifically the $3.9200 support and $4.0250 resistance levels. A breach below support could trigger further declines towards the $3.8000 mark, while surpassing resistance would pave the way for a potential bullish correction towards an initial target of $4.1500.
Today’s anticipated trading range is projected between $3.9200 and $4.0250.
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