Copper prices have recently maintained a sideways trajectory near the $4.4000 mark, as they contend with intraday downward pressures while striving to uphold the overarching bullish trend. The stability observed within the bullish channel, coupled with support around the $4.2900 level, suggests a reinforcement of the previously indicated bullish sentiment.
With stochastic indicators signaling potential positive momentum, there is a growing likelihood of bullish endeavors gaining traction. Market participants may anticipate further upward movement, with initial targets set around the $4.5400 level, followed by a push towards the $4.6700 resistance line.
Today’s anticipated trading range is expected to oscillate between $4.3400 and $4.5400, reflecting the current market dynamics and potential price movements.
Trend Forecast: Bullish