No news for copper price – Forecast today – 18-4-2024
Economies.com
2024-04-18 05:30AM UTC
Copper Price Analysis
Expected Scenario
- The copper price remains in sideways trades due to frequent consolidation below the 4.4200$ barrier.
- Stochastic decline below 80 level confirms correctional negative attempts, expecting a decline towards the 4.2500$ level soon.
Expected Outcome
No change to copper price sideways trades due to the frequent consolidation below 4.4200$ barrier, to force it to postpone the bullish attack for now.
On the other hand, succeeding to surpass the barrier and holding above it will reactivate the efficiency of the bullish track, expecting forming new bullish waves and start targeting new positive stations that might start at 4.5800$.
Expected Trading Range
Between 4.4200$ support and 4.2500$ resistance.
Trend Forecast: Bearish
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