Copper Price Consolidation Tests Lower Boundary

Copper prices have been trading within a consolidation range of 632-656 since Tuesday, with a bullish candle forming at its widest point. The market is now closely watching whether the price will test the lower boundary of this pattern.

Yesterday, sellers successfully tested the lower boundary, but Thursday's session still finished inside the range, invalidating yesterday's tiny breakdown. This suggests that only a daily close below 632 would officially trigger a bearish leg and reopen the path toward yesterday's downside targets.

The bearish picture is further supported by technical indicators CCI and Stochastic, which have generated fresh daily sell signals.

In related markets, the US Dollar (DX.F) remains above a key level of 101.21, maintaining its bullish breakout status. However, a move below this threshold would weaken the bullish scenario.