Copper price begins to hit the targets – Forecast today – 15-5-2024

Economies.com
2024-05-15 05:29AM UTC

Copper Price Analysis

Expected Scenario

  • The Copper price confirmed keeping the bullish scenario by moving away from 4.7500$ level, which forms the major support line, to notice surpassing the historical high and recording 5.0700$.
  • Now, the continuous positive momentum coming by the major indicators will increase the efficiency of the bullish track, to expect targeting the first additional target at 5.1600$, which surpassing it will open the way to form strong bullish waves that might target 5.5800$ level in the upcoming period.

Expected Trading Range

Between 4.8800$ support and 5.1600$ resistance.

Trend Forecast: Bullish

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