Copper price continues to move sideways in the intraday session, as it remains confined between the stable resistance barrier near $6.5100, while the $6.1000 level continues to form important support against attempts to resume the corrective decline. The price has remained stable since yesterday’s trading near the $6.4500 level.

 

Continued price fluctuation below the resistance barrier supports the possibility of renewed corrective attempts, with the price expected to move initially toward $6.2800, before retesting the previously mentioned support level. However, a breakout above this barrier and sustained trading above it would open the way for further positive targets, initially toward $6.5950, followed by $6.7310.

 

The expected trading range for today is between $6.3000 and $6.5100

 

Trend forecast: Bearish