Copper price touches the first target – Forecast today – 9-4-2024

Copper Price Analysis

Expected Scenario

• The Copper price extended towards the first positive target at $4.3000, facing a 38.2% Fibonacci correction level and settling near it. Positive factors, represented by the $4.1500 level, continue to provide continuous additional support. Major indicators are attempting to provide positive momentum, allowing us to anticipate surpassing the current obstacle to resume the bullish attack and record additional gains.
• This bullish momentum might extend towards $4.4200, followed by reaching the next main target at $4.5800.

Expected Outcome

The Copper price is expected to maintain its upward trajectory, supported by positive factors and major indicators. This could result in further gains in the near term.

Additional factors contributing to the bullish sentiment may lead to sustained upward movement in the price of Copper.

Expected Trading Range

Between $4.2000 support and $4.4200 resistance.