Copper price takes breath – Forecast today – 15-4-2024

Scenarios and Trading Range

Copper price approached the first main target at 4.4200$ on last Friday, and started to gain profits by bouncing towards 2.2600$, in order to gather the additional positive momentum.

In general, the bullish overview will remain valid as long as 4.1500$ support line remains intact, noting that succeeding to gather the additional momentum will allow it to continue the bullish attack and wait to reach the next main target at 4.5800$.

The expected trading range for today is between 4.1800$ and 4.4200$

Scenario Report

1. Bullish trend remains intact.
2. Support line at 4.1500$ holds.
3. Addition of positive momentum.
4. Next main target at 4.5800$.