Copper price awaits the positive momentum – Forecast today – 25-3-2024

Copper price continued to provide mixed sideways trades by settling near 4.0200$ level, attempting to face the temporary negative pressures in order to keep the chances of motivating the bullish rally again, which depends on the stability of 38.2% Fibonacci correction level that forms key support at 3.8500$.

Now, stochastic exit from the oversold areas will increase the chances of gathering the positive momentum to reinforce the chances of forming new positive waves, expecting to target 4.1500$ soon, followed by reaching the next main target at 4.3000$.

The expected trading range for today is between 3.9400$ and 4.1500$

Trend forecast: Bullish