Copper price surrenders to stochastic negativity – Forecast today – 27-3-2024

Copper Price Analysis

Copper price continued to postpone the bullish rally and provide new sideways fluctuation near 3.9800$ level, surrendering to stochastic negativity by settling within the oversold areas frequently as appears on the chart.

• We expect to continue forming mixed sideways trades with the chance of forming new correctional bearish waves to attempt to test the additional support 3.8500$.
• Succeeding to hold above 4.0200$ will increase the chances of forming new positive waves to manage to renew the pressure on 4.1500$ barrier.
• Surpassing it will ease the mission of recording new positive gains that start at 3.3000$.

The expected trading range for today is between 3.9400$ and 4.0200$.

Trend forecast: Bullish