Copper Price Faces Downward Pressure, Eyes Key Support Levels

Copper prices saw some positive movement yesterday, briefly testing the 55-period moving average (MA55) before settling below the $4.2000 mark. This reinforces the ongoing bearish trend highlighted in previous analyses.

The negative momentum indicated by the stochastic suggests further downward pressure, with expectations of a potential decline towards the $4.1100 level, followed by a test of the critical $4.000 support line. However, if prices rally above the $4.2000 barrier and sustain above it, this would negate the bearish outlook and open the door for a potential rise toward $4.2600 and $4.3300.

For today, the anticipated trading range for copper is between $4.1100 and $4.2000.

Related topic:

How to Trade Copper Futures?

How To Invest In Copper Futures?

5 Things To Know Before Trading Copper Futures