Rephrased Version:
Copper prices edged higher as the market attempted to recover part of its previous losses and ease the strong overbought conditions, supported by emerging positive signals on the technical indicators. However, the ongoing negative pressure from trading below the 50-period EMA continues to affirm the dominance of the short-term corrective bearish trend, with the price also moving along its descending trendline.
Accordingly, we expect copper to decline in upcoming intraday trading if resistance holds at $5.10, with a potential move toward the key support level at $4.95.
The expected trading range for today is between $4.95 and $5.10.
Trend Forecast: Bearish
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