Copper Prices Face Downward Pressure, Eyeing Key Support Levels

Copper prices have entered a downward trajectory, maintaining negative momentum as the metal stabilizes below the critical $4.20 mark. This bearish trend reinforces the likelihood of further declines, aligning with previous market forecasts.

Adding to the pressure, the 55-day moving average (MA55) is converging near the $4.20 barrier, effectively confining copper’s movement within a negative range. This development strengthens expectations for the metal to test lower support levels at $4.00 and $3.93 in the near term.

For today’s session, the anticipated trading range is between $3.93 and $4.20, reflecting the market’s cautious sentiment amid ongoing bearish trends.

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