7
Copper prices reached the 4.4700$ level before experiencing a correction, settling near 4.3400$. This bearish rebound is a result of ongoing contradictions between major technical indicators, leading to sideways trading near the 4.2600$ support line.
For the bullish outlook to regain momentum, copper needs to secure positive catalysts to maintain stability above the 4.3900$ resistance. This would pave the way for potential gains, targeting 4.5400$ and subsequently 4.6900$. Conversely, a break below the support level would invalidate the bullish view, with the price potentially moving toward 4.1600$.
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The expected trading range for today is between 4.2700$ support and 4.5400$ resistance.
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Trend Forecast: Bullish
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