The copper price recently saw a bearish bounce from the $4.7000 mark in previous sessions, coming under intraday pressure that suggests a continuation of downward movement. Analysts anticipate a bearish bias targeting a primary support level around $4.3380.
Technical indicators, notably Stochastic, are signaling negativity, reinforcing expectations of further declines. This bearish outlook remains valid unless there is a significant rally above $4.7000 with sustained support at that level.
Today’s anticipated trading range is expected to fluctuate between $4.4000 and $4.6500, reflecting ongoing market volatility and sentiment shifts.
Related topics:
Copper Prices Poised for Potential Breakthrough
Copper Prices Face Sideways Trading Amid Negative Momentum Signals
