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Tokyo, Japan – June 4, 2024 – Copper prices are expected to see a significant decline in the near future, according to analysts. The forecast hinges on a series of technical factors pointing towards a bearish trend.
The analysis highlights Copper’s recent struggles to break above key resistance levels, specifically $4.7400 and $4.8500. This persistent weakness suggests a potential downward trajectory for the metal.
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For the bearish trend to gain momentum, analysts predict Copper needs to fall below $4.5200. If this happens, the price could target support levels near $4.3100 and $4.1500.
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The expected trading range for Copper today is anticipated to be between $4.700 (resistance) and $4.3100 (support).
Trend Forecast: Bearish
