Copper Price Exhibits Sideways Movement Between Barriers

Copper prices have adhered to the stability of the sideways track, finding support along the line at 3.7400. This has been followed by a shift towards the 3.8100 barrier, where the price has settled beneath it. The current scenario signals a concession to the prevailing sideways bias.

Anticipated positive momentum from stochastic indicators is likely to intensify pressure on the aforementioned barrier, facilitating a smoother transition into a bullish trajectory. The initial target in this bullish track is set at 3.8600, with potential extensions to 4.0200 in the near-term period.

The expected trading range for the day is anticipated to fluctuate between 3.7500 (support) and 3.8600 (resistance).

Anticipated Trend for Today: Bullish