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Copper prices remain stable above the $4.2600 mark, forming a neckline for a double bottom pattern. This positioning puts upward pressure on the resistance line at $4.3400, indicating potential for renewed bullish activity.
Analysts advise waiting for a confirmed breach and a positive close above the current resistance to enhance the likelihood of gains, with targets set at $4.4100 and $4.5200. Conversely, a decline below $4.2600 could negate the bullish outlook, potentially leading prices down to $4.1500.
The anticipated trading range for today is between $4.2600 and $4.4100.
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