Copper Prices Show Bullish Momentum Following Support Test

by Yuki

Copper prices successfully tested the $2.2600 support line yesterday, marking the beginning of a bullish rally that has allowed the price to rise above the 55-day moving average (MA55). Currently, copper is stabilizing near the $4.3500 mark.

Moreover, stochastic indicators are beginning to show positive momentum, which enhances the likelihood of an upward movement towards the $4.4500 resistance level. Should this barrier be breached, it could pave the way for further gains, potentially reaching new stability targets at the $4.5300 and $4.6900 levels.

For today, the anticipated trading range for copper is projected to be between $4.3000 and $4.4500.

Related topic:

How to Trade Copper Futures?

How To Invest In Copper Futures?

5 Things To Know Before Trading Copper Futures

Related Articles

blank

Welcome to sorafutures futures portal! Here, we illuminate pathways to tomorrow’s opportunities, equipping you with insights and resources to thrive in an ever-evolving world. With a blend of vision and pragmatism, we empower individuals to navigate uncertainties and seize their future with confidence.

Copyright © 2023 sorafutures.com