Copper Price Delays Potential Decline

by Jennifer

Copper’s price has shown signs of delaying its anticipated negative movement, driven by the influence of a positive momentum reflected in the stochastic indicator. This has contributed to maintaining its position above the critical support level at 3.6500, leading to a modest increase that sees it settling around 3.7200.

It’s important to note that a definitive departure from the prevailing negative pressures and the revival of bullish endeavors will require the establishment of robust upward trends, with a pivotal step being the breach of the 3.8500 resistance level. This achievement would set the stage for targeting positive milestones, potentially commencing at 3.9200 and extending to 4.0500.

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For the current session, the projected trading range is expected to hover between 3.6500 and 3.8500, underscoring the present bullish sentiment.

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Anticipated Trend for Today: Bullish

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