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Copper Price Surges Above Moving Average, Eyes Further Gains

by Jennifer

On February 19, 2024, copper prices exhibited strength by successfully surpassing the MA55 at 3.760 and achieving gains with a touch at 3.8200. The positive momentum reflected in the stochastic indicator instills confidence in anticipating renewed bullish attempts. The focus is on surpassing the obstacle at 3.8500, paving the way for recording new gains in the medium-term period, with a potential rally towards 3.9400, followed by a target at 4.0200.

The projected trading range for today is expected to fluctuate between 3.7500 (support) and 3.8500 (resistance).

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Expected Trend for Today: Bullish

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