Copper prices have been characterized by mixed fluctuations, oscillating between the resistance level of 3.6800 and the support at 2.5000. These price movements have hindered efforts to resume the primary bearish momentum.
It is vital to emphasize the importance of garnering negative momentum, which is essential to maintain a position below the aforementioned resistance level. This would facilitate the initiation of new bearish waves, eventually leading to a breach of the crucial support at 3.5000. Subsequently, the market may embark on a path towards lower price levels, possibly beginning with 3.3700 and ultimately extending to 3.1400.
For today, the expected trading range is projected to span between 3.6800 and 3.5300, with the overall market sentiment leaning toward bearish.
