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Copper prices have neared a crucial resistance level at $2.2600, encountering the 55-day moving average (MA55), which could impede further upward momentum.
Currently, the stochastic indicator suggests that copper is in overbought territory, raising the likelihood of price instability. Should the price fail to break through the $4.3300 barrier, a downward correction could ensue, with potential support levels at $4.1500 and $4.0250.
For today, the expected trading range for copper is between $4.1400 and $4.2600.
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