Category: Forex News, News
Copper price keeps delaying the rise– Forecast today – 29-5-2025
Copper price delayed the bullish rally due to the negative pressure that comes by a stochastic approach from 50 level, suffering some extra losses by hitting $4.6000 level, attempting to settle above the moving average 55.
The contradiction between the main indicators might force the price to provide sideways trading, but the repeated stability below 6.8%Fibonacci correction level at $4.8100 represents a main factor that confirms the bearish correctional bias dominance, to keep waiting for resuming the decline and targeting $4.5000 level in the near period.
The expected trading range for today is between $4.5000 and $4.7000
Trend forecast: Bearish
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Written by : Editorial team of BIPNs
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