Copper prices have demonstrated stability within a bullish trend, buoyed by key indicators that are fostering positive momentum. Currently, the prices remain above the significant support level of $4.3400, with early signs of bullish waves emerging. Analysts anticipate potential gains as the price targets a rally towards $4.5300. If this level is surpassed, it may trigger further upward pressure, potentially challenging the resistance at $4.6900.
Conversely, should prices fall below the aforementioned support level and close negatively, it would activate a corrective bearish trend. Such a decline could lead to substantial losses, initially pushing prices towards the $4.2600 mark.
For today, the expected trading range for copper is projected to be between $4.3600 and $4.5300.
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