2
Copper prices experienced sideways trading on Tuesday, influenced by conflicting signals in the market. The stochastic indicator exhibited negative trends, while the 55-period moving average (MA55) attempted to establish additional support at the $4.2900 level.
Market analysts anticipate that this sideways trend will persist, with the possibility of testing the $4.2500 mark. Should prices manage to gain positive momentum, they could initiate a bullish trend aimed at reaching the $4.4500 level. A successful breakout above this resistance could lead to further gains, potentially pushing prices towards $4.5300 and $4.6900.
For today, the expected trading range for copper is between $4.2500 and $4.4000.
Related topic: