The copper price has reinforced its bullish momentum by repeatedly fluctuating near the $4.9300 level, maintaining a positive stance within the boundaries of its ascending channel. Meanwhile, $4.8100 continues to serve as additional support in recent trading.

Currently, as the Stochastic indicator moves closer to the overbought zone, it could boost the price’s potential to gain the extra positive momentum needed to reach the channel’s resistance, which extends toward $5.000. This level represents a strong psychological barrier, so we recommend closely monitoring the price action once this target is approached.

Expected Trading Range for Today:

Between $4.8500 and $5.0000

Today’s Price Forecast: Bullish