Copper prices are expected to continue trading in a sideways range, moving between the $4.2000 resistance and the $4.0000 support level. These levels are providing temporary stability amid the ongoing negative pressures driven by stochastic indicators.
Despite the current consolidation, the outlook suggests persistent downward forces could lead to further declines. If these pressures intensify, copper prices may target a near-term low of $3.9300, followed by a potential drop to the main bullish channel’s support line at $3.8400.
However, if copper breaks through the $4.2000 resistance level, it would signal a bullish reversal, with the price aiming to reach $4.3400.
For today, the expected trading range is between $3.9300 and $4.1500.
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