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Copper prices experienced a notable rally yesterday, reaching the previously set initial target of $4.5170. This upward movement confirms a bullish trajectory supported by a strong foundation at the $4.3200 mark.
However, with the stochastic indicator reaching overbought levels, prices may experience some sideways trading. This pause is expected as the market gathers the necessary positive momentum to continue its upward trend. Analysts anticipate a target of $4.6420 in the near term, with the possibility of reaching an additional target of $4.6400 shortly thereafter.
For today, the projected trading range for copper is set between $4.4100 and $4.6400.
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