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Copper prices continue to be influenced by conflicting major indicators, with recent stability above the $3.9200 support level suggesting a prevailing bullish trend. This has led to a temporary consolidation near the $4.0500 mark.
The stochastic indicator’s attempt to generate additional positive momentum could enhance the likelihood of breaching the $4.1500 barrier. This level is crucial for sustaining the bullish trend, with potential for prices to exceed it and reach $4.2400, and possibly $4.3400.
Today’s anticipated trading range for copper is between $3.9800 and $4.1500.
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