Copper Price Maintains a Bearish Outlook

by Jennifer

Despite recent weak trading in copper prices, several factors are contributing to the prevailing negativity in the near and medium-term. These include the consistent negative stability below the 3.8500 barrier and the negative orientation of the MA50, which is currently above the current price.

Additionally, the stochastic indicator is showing signs of providing negative momentum, which is likely to pave the way for new bearish waves. It is anticipated that the price will soon challenge the 3.5000 support level, and if this level is breached, further losses could extend towards 3.3700 as the next target in the bearish trend.

Advertisements

Today’s Expected Trading Range: 3.7000 – 3.5000

Advertisements

Today’s Trend Outlook: Bearish

 

You May Also Like

blank

Bnher is a comprehensive futures portal. The main columns include futures market, futures exchanges, futures varieties, futures basic knowledge and other columns.

[Contact us: [email protected]]

© 2023 Copyright  bedgut.com – Futures Market, Investment, Trading & News