Copper Price Analysis
The price of copper has encountered renewed downward pressures, stabilizing close to the $4.3500 support level. Today’s price behavior will be crucial in determining the expected trends for both the near-term and medium-term periods.
Sustained stability above the support level is pivotal for triggering a bullish advance, targeting levels at $4.7700 and $4.8600. Conversely, a break below the support and continued trading below it would likely lead to further declines towards $4.2200 and $4.0500 initially.
Expected Trading Range
- Support: $4.3000
- Resistance: $4.4500
Trend Forecast: Neutral
Related topics: