-1.34% for Copper as selling dominates under key levels

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Copper drops 1.34% today to $6.03

Highlights

Copper remains under heavy selling pressure, trading below key short- and medium-term moving averages on the hourly chart.
Momentum indicators, including MACD, ADX, RSI, and others, all confirm a bearish trend with intraday flows dominated by sellers.
Expected price action over the next 2–3 days is consolidation between $5.9609 and $6.1139, with a high probability of further downside.

Oversold conditions and technical resistance reinforce bearish momentum

On the h1 chart, copper trades below the MA-20 at $6.11 and MA-50 at $6.21, while staying above the daily MA-200 at $5.84. The Ichimoku Kijun level stands at $6.11, offering immediate resistance. Bearish momentum is further signaled by a MACD and ADX in sell mode, and an RSI value of 23.75 plus oversold readings from the Stoch RSI and CCI. BBP confirms seller dominance intraday, and the Awesome Oscillator direction aligns with the prevailing downtrend. Intraday action shows no material divergence from the bearish setup.

Downside breakout risk persists as bullish triggers remain absent

Over the next 2–3 trading days, copper is likely to remain in a volatility band between $5.96 and $6.11. The probability of a sustained upward reversal is very low under current conditions, while the odds of further downside are high. A decisive move above $6.11 would be required to indicate a bullish setup, whereas a break below $5.96 would signal continuation of the bearish scenario.

Viktoras Karapetjanc, expert at Traders Union, sees copper trapped in a bearish short-term environment, with persistent selling pressure confirmed by major technical indicators. He notes that copper is holding under key moving averages, while oversold conditions reflect strong intraday negative sentiment. The analyst believes volatility will likely continue, with a low probability of bullish reversal unless $6.11 is reclaimed. Downside risks dominate, especially on a break below $5.96. "Copper needs a decisive move above $6.11 to reverse the story — until then, bearish momentum remains in control."

Previously it was reported that copper faced persistent bearish momentum amid heightened risk aversion and uncertainty in the broader market environment. The latest price action reinforces this negative bias, making the $5.96 support a pivotal level for traders monitoring the potential for renewed downside pressure in the near term.

Source of Data: HG Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.