Copper Price Sees Renewed Momentum as it Surpasses Key Target

The price of copper has regained its positive momentum after stabilizing within an ascending minor channel. The support level for this channel currently extends to $6.4400, and the price has surpassed the first target at $6.6100.

According to the Stochastic indicator, which is starting to provide a positive signal by crossing above the 50 level, the bullish path will be strengthened.

This could lead to the price being attracted toward $6.7500 and then attempting to record new historical gains by reaching $6.8500 and $6.9300 respectively.