Copper price rose in attempt to recover its previous losses, and it attempts to recover some of its losses, attempting to offload some of its clear overbought conditions, especially with the emergence of positive overlapping signals, amid the continuation of the negative pressure due to its trading below EMA50, reinforcing the dominance and stability of the bearish corrective trend on the short-term basis with its trading alongside supportive trend line.

 

Therefore, our expectations suggest a decline in their last trading on an intraday basis, if the resistance settles at $55.10, to target the key support level at $4.95.

 

The expected trading range for today is between $4.95 and $5.10

 

Trend forecast: Bearish