Copper – Chart
In today’s financial markets, copper has shown a notable uptick, advancing by 0.51% to a price point of $3.85. This price movement situates the metal squarely at its pivot point, indicating a poised stance for either direction.
With immediate resistance levels awaiting at $3.88, $3.91, and $3.94, copper’s trajectory could face hurdles if upward momentum continues. Conversely, support levels are established at $3.81, $3.78, and $3.75, offering a safety net against potential declines.
The alignment of the 50-Day and 200-Day Exponential Moving Averages at $3.85 and $3.82 respectively further bolsters a bullish outlook, provided copper maintains its ground above these averages. Given these dynamics, the current assessment leans towards a bullish trend, contingent on sustaining prices above the pivotal $3.85 mark.
