Copper prices have made recent contact with the formidable barrier at 3.8500. However, as depicted in the chart, the price has settled below this critical level. Market experts anticipate a period of sideways trading as it seeks to achieve the necessary breach. This breakthrough is pivotal for facilitating a renewed bullish assault, with targets set at approximately 3.9200 and 4.0200.
Conversely, the bullish trajectory faces a potential threat if copper prices dip below the key support level at 3.6600. Such a descent would carry significant weight as it could generate negative waves, potentially resulting in substantial losses. This downward journey may initiate around the 3.5000 level.
For today’s trading, market participants should prepare for possible price fluctuations, with the expected trading range spanning from 3.7500 to 3.9200.
Anticipated Market Trend for Today: Bullish
