Copper Price Stuck in Trading Range Ahead of Crucial Support Level

Copper prices have been stuck in a rut, trading sideways around $6.6000 without making any significant gains.

The main indicators are at odds with each other, but the copper price has been consolidating within an ascending channel, with support forming at $6.5000.

This suggests that we should wait for a positive momentum to develop before considering it a buying opportunity.

If the price breaks below the ascending channel's support at $6.3900 and stabilizes there, it could lead to further losses, targeting $6.2800.