Copper Forecast Predicts Downturn, Eyes Potential Support Levels

by Jennifer

Tokyo, Japan – June 4, 2024 – Copper prices are expected to see a significant decline in the near future, according to analysts. The forecast hinges on a series of technical factors pointing towards a bearish trend.

The analysis highlights Copper’s recent struggles to break above key resistance levels, specifically $4.7400 and $4.8500. This persistent weakness suggests a potential downward trajectory for the metal.


For the bearish trend to gain momentum, analysts predict Copper needs to fall below $4.5200. If this happens, the price could target support levels near $4.3100 and $4.1500.


The expected trading range for Copper today is anticipated to be between $4.700 (resistance) and $4.3100 (support).

Trend Forecast: Bearish

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