Copper Price Regains Ground Despite Profit-Taking Pressure

The copper price has regained some ground after ending its positive rally at $6.6100 level, reaching the resistance of the bullish channel.

However, despite facing profit-taking and reaching $6.5100, the stability above the support at $6.3400 suggests that a positive momentum may be gathering to reinforce the chances of forming bullish waves.

The forecast is for the copper price to target the $6.6500 level, with pressure on the resistance level to find an exit for targeting new historical stations.

However, there's also a risk of a sharp decline, forcing the price below $6.2500 and potentially leading to several losses reaching as low as $6.1200.