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Copper prices demonstrated notable strength as they broke through the $4.0250 resistance level yesterday, achieving gains by reaching $4.0620. This movement was supported by consistent stability above the $3.9200 support line, signaling the beginning of a bullish trend.
The stochastic indicator has reinforced this positive momentum, suggesting that copper prices may soon target the $4.1500 level. Should prices surpass this threshold, they could potentially extend their rally towards the 55-day moving average near $4.2750, which would become the next significant target.
For today, copper is expected to trade within a range of $3.9800 to $4.1500.
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