Copper prices have remained stagnant, exhibiting minimal movement up to this point. The market continues to offer a blend of sideways trades, with the price fluctuating between the support level at 3.6700 and the resistance level at 3.9200.
Furthermore, the prevailing contradiction observed among the primary indicators reinforces the notion of the market’s inclination towards a sideways trajectory in ongoing trading sessions. As a result, market sentiment remains neutral until there is a decisive breach of one of the prevailing barriers, as previously outlined in our latest market report.
For today’s trading session, the expected trading range is anticipated to be confined between the upper boundary at 3.9000 and the lower boundary at 3.7200, with a prevailing neutral trend expected.
It is vital for market participants to exercise caution and closely monitor copper prices, as price developments can be influenced by various factors, including economic data, supply and demand dynamics, and global geopolitical events. Staying informed about the latest market conditions is essential for informed decision-making.
