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Copper price continues its consolidation below the 3.7400 barrier, influenced by the negative trend of the MA55. This sustains its position within the previously indicated negative trajectory.
It remains crucial to gather negative momentum for a smoother approach towards the anticipated downward stations, commencing at 3.6200 and further targeting the support line at 3.5000. On the contrary, fresh upward pressures may lead to a breach of the barrier, with a potential move toward the 3.8100 resistance level before encountering any new downward targets.
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The expected trading range for today is positioned between 3.7100 and 3.6200.
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Projected Trend for Today: Bearish
