Copper‘s market dynamics present a slight downturn, with its price at $3.84, marking a 0.30% decline. The metal hovers around its pivot point of $3.84, suggesting a balanced field of play between buyers and sellers.
Resistance levels at $3.87, $3.91, and $3.94 delineate potential ceilings for price escalations, while support at $3.81, followed by $3.78 and $3.75, outlines critical zones for price stabilization.
The close proximity of the 50-Day EMA ($3.85) to the current price, alongside the 200-Day EMA ($3.83), indicates a narrowly bullish sentiment, contingent on sustaining above the pivot point. This subtle bullish bias underscores copper’s potential for upward movement, provided it maintains above $3.84.
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