Copper price under the positive pressure – Forecast today – 8-4-2024

Copper Price Analysis

Expected Scenario

• The Copper price continued to provide positive trades recently, settling within the bullish track that depends on the stability of the major support at $3.8500, in addition to the $4.1500 level that continues to form additional support, increasing the chances of activating the bullish attack on a near-term and medium-term basis.
• Major indicators provide positive momentum, easing the mission of surpassing the $4.3000 obstacle soon, opening the way to reach new stations that might extend towards $4.4200 followed by reaching $4.5800 as the next main target.

Expected Outcome

The positive momentum and stable support levels are expected to facilitate the Copper price's movement towards surpassing the $4.3000 obstacle, potentially reaching new targets at $4.4200 and $4.5800.

Expected Trading Range

Between $4.1500 support and $4.4200 resistance.