Copper’s price has shown signs of delaying its anticipated negative movement, driven by the influence of a positive momentum reflected in the stochastic indicator. This has contributed to maintaining its position above the critical support level at 3.6500, leading to a modest increase that sees it settling around 3.7200.
It’s important to note that a definitive departure from the prevailing negative pressures and the revival of bullish endeavors will require the establishment of robust upward trends, with a pivotal step being the breach of the 3.8500 resistance level. This achievement would set the stage for targeting positive milestones, potentially commencing at 3.9200 and extending to 4.0500.
For the current session, the projected trading range is expected to hover between 3.6500 and 3.8500, underscoring the present bullish sentiment.
Anticipated Trend for Today: Bullish
