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Copper Price Awaits New Decline – Forecast for July 11, 2024

Yesterday, the price of copper traded negatively, currently fluctuating around the $4.6000 level. Stochastic indicators continue to show negative signals, suggesting potential further declines with the next target set at $4.3380.

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The outlook remains bearish for the near future, contingent on the price holding below $4.7000. A breach of this resistance level could interrupt the anticipated decline and potentially lead to a reversal.

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Today’s expected trading range is between $4.4000 and $4.6500.

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Trend Forecast: Bearish

Traders and investors should monitor the price’s behavior around the resistance and support levels mentioned to gauge the likelihood of continued bearish momentum or a possible reversal in copper prices.

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