Continuing its positive trajectory, copper prices have capitalized on the consistent stability above the additional support level of $3.9500. This reaffirms the dominance of the bullish bias in the market, with the price settling near $4.0500.
Analysis of the chart indicates a consolidation of the MA55 indicator near the key support level of $3.8500, reinforcing the containment of trades within the bullish track. Additionally, stochastic indicators suggest positive momentum, further enhancing the likelihood of surpassing the target at $4.1500 and paving the way for reaching additional stations, potentially starting at $3.3000 and $3.4200.
For today’s trading, the anticipated trading range is between $3.9800 and $4.1500.
Overall trend forecast: Bullish.
