Copper Price Enters Bearish Territory

Copper's price is experiencing bearish momentum, according to recent analysis by Economies.com. The commodity has formed some corrective waves, reaching a low of $6.2180 and forming an extra barrier at $6.3600, which could lead to further downward pressure. If the support level at $6.1000 is broken, Copper's price may plummet to as low as $5.9500 or $5.8200.

To recover from this bearish trend, Copper would need to form a strong bullish rally and breach its main barrier at $6.5100, while holding above it. The current trading range for today is between $6.1000 and $6.300.