Copper price continues to rise – Forecast today – 15-3-2024

Copper price succeeded to confirm the continuation of the positivity by surpassing 4.0200 obstacle yesterday, to notice recording additional gains and reaching 4.1000 level, noticing the plenty of positive factors to reinforce the chances of resuming the rise, as stochastic reach the overbought areas, while the MA55 approaches the additional support at 3.8500.

The mentioned factors allow us to keep the bullish overview that targets 4.1500 level, followed by reaching 23.6% Fibonacci correction level at 4.3025 in the medium-term period.

The expected trading range for today is between 4.000 and 4.1500

Trend forecast: Bullish