Copper Price Sustains Negative Trajectory

Copper prices have persisted in a negative trend in recent sessions, maintaining their position beneath the support level of 3.6800, which previously marked a sideways trading range. This decline has heightened the likelihood of an impending bearish move. The stochastic indicator indicates efforts to establish negative momentum. Traders are now anticipating a breach of the 50% Fibonacci correction level at 3.500, and a successful violation of this threshold is expected to propel copper prices towards lower milestones at 3.3700 and 3.1400.

The projected trading range for today falls between 3.7000 and 5.0003.

Anticipated Market Trend: Bearish