The current analysis of copper prices indicates a sustained bullish trend, supported by consistent positive closings above the $4.3500 mark. This trend is expected to pave the way for new bullish waves in both the near and medium terms. Concurrently, stochastic indicators are showing signs of exiting oversold conditions, suggesting potential momentum for surpassing the $4.7700 resistance level. The anticipated breakthrough could lead to further advancements, targeting levels beginning at $4.8600 and potentially reaching up to $5.1800.
Expected Trading Range
The anticipated trading range for copper is projected to be between $4.4000 and $4.7700, reflecting the current market sentiment and resistance levels.
Trend Forecast
In conclusion, the trend forecast for copper remains bullish, supported by technical indicators and positive market dynamics. Investors and traders are advised to monitor price movements closely within the specified ranges for potential trading opportunities aligned with the upward trajectory.
