Copper price continues to postpone the rise – Forecast today – 26-3-2024

Copper Price Analysis: Key Indicators and Forecast

The copper market continues to be influenced by significant indicators, leading to a delay in the expected bullish surge. Instead, temporary corrective trades persist as prices fluctuate around the $3.9700 mark. It remains crucial for copper to maintain levels above the additional support line at $3.8500, reinforced by the consolidation of the MA55 in its proximity. This stance is pivotal in enhancing the likelihood of regaining positive momentum, thus facilitating a renewed push towards overcoming the $4.1500 barrier. Surpassing this level will pave the way for a resumption of the bullish trend, with an initial target set at the $4.3000 threshold.

Trading Range Projection

• Upper Bound: $4.0800
• Lower Bound: $3.9400

Trend Forecast

Bullish