In the latest analysis of copper prices, the market has sustained a streak of positive trades, aligning within a bullish trajectory largely contingent upon the stability of the major support at $3.8500. Additionally, the $4.1500 level serves as an additional pillar of support, enhancing the likelihood of activating a bullish onslaught in the near-term and medium-term.
Key indicators exhibit positive momentum, thereby easing the path towards surmounting the $4.3000 obstacle in the imminent future. This development is anticipated to pave the way for attaining new milestones, potentially extending towards $4.4200, followed by reaching $4.5800 as the subsequent primary target.
The expected outcome entails the momentum of positivity and stable support levels facilitating the movement of copper prices towards overcoming the $4.3000 obstacle, with prospects of reaching new targets at $4.4200 and $4.5800.
The projected trading range oscillates between the support level at $4.1500 and resistance at $4.4200.
In summary, the trend forecast for copper prices remains bullish, underpinned by favorable momentum and stable support levels, with expectations of further upward movement in the foreseeable future.
