Copper price ended its recent trading by posting consecutive closes below the barrier at $6.7400, forcing it to succumb to the negative momentum of the Stochastic indicator and form several bearish corrective waves, with the price currently stabilizing around $6.3800.

 

The price needs to hold above the support level at $6.3300 during the current period to reinforce the previously suggested main bullish scenario, initially targeting $6.5000 and then the aforementioned barrier. However, breaking below this support and holding beneath it would force the price to form further corrective waves, potentially leading to additional losses toward $6.2000, which in turn represents the key level separating the current move from a potential change in the overall trend of upcoming trading.

 

The expected trading range for today is between $6.3300 and $6.5000

 

Trend forecast: Fluctuating