Scenarios
Scenario 1: Continuous Negative Pressure
- Copper price affected by stochastic exit from overbought areas.
- Increased negative pressures on current trades.
- Frequent stability below bullish channel’s resistance line at $4.6800.
- Formation of new negative crawl, touching $4.4600 level.
Scenario 2: Further Downturn Expected
- Continuous negative pressures anticipated to lead to more losses.
- Expectation to target $4.4000 level soon.
- Main target projected at $4.2900.
Trading Range
The expected trading range for today is between $4.6000 and $4.3000.
Trend forecast: Bearish