Copper prices have displayed sluggish movements since yesterday, encountering the MA55 resistance at 3.7700. The potential for renewing bullish attempts remains intact, contingent on the price stabilizing above the additional support level of 3.7200.
To propel further upward momentum, a strong positive push is essential. This would enable the copper price to renew pressure on the 3.8500 barrier and achieve the necessary breach, thereby paving the way for multiple positive stations, particularly in proximity to 4.0200 and 4.1200.
Today’s projected trading range is expected to fluctuate between the support level at 3.7400 and the resistance at 3.8500. These levels are significant for traders, providing insights into potential price movements.
In summary, the anticipated trend for today remains bullish for copper prices. However, the momentum relies on the establishment of strong positive forces and the breach of key resistance levels. Traders are advised to closely monitor the levels of 3.7200 and 3.8500 for indications of potential market shifts.
