Copper prices remain influenced by the stability of the key resistance near $5.2000, limiting the likelihood of a bullish breakout and resulting in continued sideways movement around $5.0500.
The bullish scenario remains valid as long as the price stays above support at $4.7500. Maintaining this level could allow the market to build the momentum needed to surpass the resistance and target higher levels, starting around $5.3200. Conversely, a break below this support with a negative close would trigger a bearish correction, potentially pushing prices down to $4.5100 and $4.3500.
Today’s expected trading range: $4.9000 – $5.2000
Trend forecast: Sideways fluctuations within a bullish framework
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