Copper Price Hits Stalemate as Traders Await Breakout

Copper prices are currently stuck in a sideways trend, oscillating between $6.5100 and $6.1000 levels.

The price has remained stable since yesterday's trading near $6.4500, but continued fluctuations below the resistance barrier at $6.5100 suggest that a corrective decline may resume.

According to Economies.com, if this happens, the price is expected to move towards $6.2800 before retesting the support level at $6.1000.

If, however, a breakout above the resistance barrier occurs and trading remains above it, further positive targets may be opened up, initially towards $6.5950, followed by $6.7310.