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The copper price continues its fluctuations within a sideways track, characterized by resistance at 3.8150 and support at 3.7200. Given this, a neutral stance is advised as we closely monitor the price for a breakout beyond either of these levels to identify potential next targets.
It’s crucial to highlight that surpassing the resistance, and holding above it, would reinforce a bullish bias, potentially targeting the 3.9200 level initially. Conversely, breaking the support would redirect the price back to a bearish trajectory, leading to significant losses and a move towards 3.6400 and 3.5000.
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The expected trading range for today is anticipated to be between 3.7200 and 3.8000.
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Today’s Trend Projection: Neutral
