Despite recent weak trading patterns in copper prices, the consistent consolidation above the support level of $4.2600 reinforces a bullish outlook. Analysts suggest maintaining a target of $4.5300, followed by efforts to push towards the $4.6900 resistance level.
Conversely, if prices dip below the current support, it could delay the anticipated bullish rally. A decline could lead to potential losses, with prices possibly dropping to levels of $4.2000 and $4.1500 before any attempts to reach the previously mentioned targets.
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Today, the expected trading range for copper prices is set between $4.2700 and $4.5300.
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