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Copper prices remain unchanged, fluctuating around the moving average of $4.2500. Currently, the market is stabilizing below the resistance level of $4.3200, which maintains a bearish outlook for the commodity. Should this trend continue, prices could potentially decline further, targeting levels of $4.1500 and $4.0250.
Conversely, if copper prices manage to breach the resistance line and sustain above it, this could signal a shift in momentum, delaying the negative sentiment. In such a scenario, traders might anticipate an upward movement toward $4.4100, followed by a potential rally to $4.5200.
Today’s expected trading range for copper is between $4.1500 and $4.3000.
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