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Copper price gathers some gains– Forecast today – 15-5-2026
Copper started activating profit-taking attempts after recently stabilizing below the 100% Fibonacci extension level at $6.5400, as it is currently drifting toward $6.3000.
We note that the formation of $6.5400 as an additional resistance level, along with the stochastic indicator showing negative momentum by exiting overbought territory, may push the price to continue corrective trading, potentially targeting $6.2400 soon, with initial support located at $6.1000.
The expected trading range for today is between $6.2400 and $6.500
Trend forecast: Bearish
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