Copper Prices Bounce Back Above Key Support Level

Copper prices have ended their bearish correction and are now showing positive signs. The metal closed above its main support at $6.2700, thanks to bullish indicators forming on the charts. This has settled the price near $6.5000, confirming a previously suggested bullish scenario.

However, the price may face difficulties in its attempts to continue rising due to stochastic fluctuations below level 50. Analysts expect it to reach the barrier near $6.5800 and breach it for extra gains that might begin at $6.6700.

The expected trading range for today is between $6.4200 and $6.5800, indicating a potential bounce-back in copper prices.