Copper price needs new momentum – Forecast today – 11-4-2024

Copper Price Analysis

Expected Scenario

• The Copper price didn’t achieve any positive gains and fluctuated below the 4.3000$ level again, affected by stochastic exit from the overbought areas as appears on the chart.
• We expect to form additional sideways trades until gathering the positive momentum, to manage to hold above 4.1500$ followed by attempting to reach the additional positive stations near 4.4200$ and 4.5800$.

Expected Outcome

The Copper price is expected to experience sideways trading until gathering positive momentum, aiming to hold above 4.1500$. Subsequent attempts may be made to reach additional positive stations near 4.4200$ and 4.5800$.

Expected Trading Range

Between 4.2500$ support and 4.4200$ resistance.