Copper Trapped in Tight Trading Range

Copper has been stuck in a tight trading range between $6.56 and $6.77, leading to severe trend exhaustion as indicated by an ADX of just 11.56.

The metal's price sits above the long-term SMA(200) ($6.4721) and the Ichimoku Cloud (support zone $6.5738, $6.6324), suggesting underlying uptrend strength, but a bearish MACD cross warns that upward momentum is spent for now.

Local highs are getting lower, forming a well-defined trading range, with a doji candle near $6.64 sealing indecision and cautioning against whipsaw losses if caught buying near the top or selling near the bottom of this choppy box.