Copper prices are ensnared in a downward spiral in current trading sessions, beset by formidable negative forces that emerged with sustained stability below the critical resistance level of $4.7200. This persistent struggle is underscored by a compelling indicator: the formation of a robust additional impetus that firmly establishes the market’s confinement within a negative trajectory.
Compounding these challenges is the unwavering provision of negative momentum by stochastic indicators, exacerbating the path towards achieving the initial target of $4.5200, with anticipation for further downward movement towards the subsequent primary target hovering near $4.3100.
Market analysts project an anticipated trading range characterized by a support level at $4.6500 juxtaposed against a resistant stance at $4.3100, emphasizing the prevailing bearish sentiment dominating copper trading dynamics.
In summary, the current landscape for copper prices is defined by enduring downward pressure, with a forecasted trend leaning decisively towards a bearish trajectory.
