Dr. Copper has recently demonstrated signs of strength, largely attributed to China's stimulus measures. This price surge is occurring within a pattern of consistently higher lows since the lows of 2023. It's important to highlight that this upward momentum previously broke through the downtrend line stemming from the highs of 2023.
Following its breakthrough of the $3.82 resistance level yesterday, attention is now focused on the potential for a sustained positive price trend. If the industrial metal maintains a price above $3.82 per pound, it could set its sights on the psychologically significant level of $4 and the resistance level established in August. These levels appear to be potential objectives worth considering in the near future.
Following its breakthrough of the $3.82 resistance level yesterday, attention is now focused on the potential for a sustained positive price trend. If the industrial metal maintains a price above $3.82 per pound, it could set its sights on the psychologically significant level of $4 and the resistance level established in August. These levels appear to be potential objectives worth considering in the near future.
Disclaimer:
Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment.
Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment.