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Copper Prices Display Positive Momentum

by Jennifer

Copper prices have initiated a robust bullish momentum, marking a significant surge after successfully surpassing the 3.7400 level. The rally has propelled the prices towards 3.8100, indicative of a potential confirmation of a shift towards a bullish trajectory.

The stability above the breached key resistance at 3.7900, coupled with the positive momentum reflected in major indicators, instills confidence in the expectation of a continued bullish attack. The upcoming targets include the 38.2% Fibonacci correction level at 3.8600, followed by 3.9200 as the next station.

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For today’s trading, the anticipated range is set between 3.7700 (support) and 3.8600 (resistance).

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The prevailing trend for today leans towards a bullish outlook, as copper prices show resilience and a propensity for further upward movements. Traders are advised to closely monitor market developments for potential confirmation of the positive trend.

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