Copper Price Maintains a Bearish Outlook

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.

Today’s Expected Trading Range: 3.7000 – 3.5000

Today’s Trend Outlook: Bearish