247
The price of copper has recorded a series of negative closures, with the latest close below the critical support level at 3.7000. This further confirms the bearish trajectory, and the price is currently hovering around the 3.6500 range.
In addition, prominent technical indicators are aligned in favor of the negative momentum, reinforcing the bearish outlook. Market participants are now closely observing the 3.5500 support level, and a breach of this level may pave the way for a medium-term decline towards 3.3700, followed by 3.1400.
Advertisements
For today, the projected trading range is anticipated to fall between 3.6800 and 3.5500, signifying a prevailing bearish sentiment in the copper market.
Advertisements
Current Trend: Bearish
