Copper prices have initiated a robust bullish momentum, marking a significant surge after successfully surpassing the 3.7400 level. The rally has propelled the prices towards 3.8100, indicative of a potential confirmation of a shift towards a bullish trajectory.
The stability above the breached key resistance at 3.7900, coupled with the positive momentum reflected in major indicators, instills confidence in the expectation of a continued bullish attack. The upcoming targets include the 38.2% Fibonacci correction level at 3.8600, followed by 3.9200 as the next station.
For today’s trading, the anticipated range is set between 3.7700 (support) and 3.8600 (resistance).
The prevailing trend for today leans towards a bullish outlook, as copper prices show resilience and a propensity for further upward movements. Traders are advised to closely monitor market developments for potential confirmation of the positive trend.
