The price of copper has persistently exhibited negative tendencies, with fluctuations hovering around the 3.5500 level. This pessimistic outlook is reinforced by the bearish sentiment of key indicators, alongside the resilience of the 3.6800 additional resistance. In light of these factors, the price is expected to remain under pressure until a breakthrough below the 3.5000 level occurs, representing a critical threshold to reignite further downward momentum.
If this level is breached, the bearish assault is anticipated to resume, with new target levels beginning at 3.3700 and potentially extending towards 3.1400.
For today’s trading, it is advisable to consider a range spanning from 3.6200 to 3.3700, with a prevailing bearish outlook.
Traders are urged to exercise caution and make informed decisions, acknowledging the inherent risks associated with market fluctuations.
