The copper price has once again mirrored a distinct downward trajectory, thereby maintaining its proximity to the pivotal support level of 3.6400. It is pertinent to recall that prominent indicators persist in supplying the impetus for this unfavorable momentum. The unyielding steadiness of the 3.8500 resistance barrier substantiates the deferral of endeavors to rekindle a bullish resurgence. Notably, a breach of the ongoing support could potentially expose the price to further setbacks, potentially extending its descent towards the 3.6000 threshold, ultimately culminating in the attainment of the 50% Fibonacci correction point at 3.5000.
Conversely, an endeavor to reclaim a bullish orientation mandates the sustenance of robust surges that successfully surpass the 3.8500 resistance, fortified by a consistent tenure above this juncture. Such an achievement would alleviate the path towards positive milestones, with potential initiations around 3.9200 and 4.0200.
The projected scope for trading activities on the current day is anticipated to transpire within the confines of the range spanning from 3.7700 to 3.6400.
The prevailing trajectory for the day is anticipated to uphold a bearish inclination.
