2
Copper prices experienced a decline in trading yesterday, continuing to consolidate below the 55-day moving average (MA55). This persistent consolidation has exerted negative pressure on the $4.0250 level, reinforcing the previously anticipated bearish trend.
The stochastic indicator suggests that the negative momentum could intensify, increasing the likelihood of breaching the $4.0250 support level. Should this occur, the focus will shift towards potential further declines, with target levels set at $3.9200 and $3.7000.
For today, the expected trading range for copper is between $3.9300 and $4.1000.
Related topic: