Copper‘s current trading price of $3.89 reflects a modest increase of 0.05%, as seen in the 4-hour chart. The metal’s pivot point is at $3.91, with resistance levels anticipated at $3.94, $3.97, and $3.99.
Conversely, immediate support is found at $3.88, with subsequent levels at $3.86 and $3.82, suggesting potential areas for price stabilization. The 50-Day Exponential Moving Average (EMA) stands at $3.88, closely aligned with the 200-Day EMA at $3.84, indicating a slightly bullish trend over the longer term.
The overall outlook for copper is bullish above $3.88, yet a descent below this critical juncture could trigger a significant selling pressure.
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