Copper price has broken below the 200-period SMA at $6.412, with trading volatile in the $6.41–$6.57 range. The 200-period SMA is currently at $6.569, and the SuperTrend indicator is down at $6.658. The Money Flow Index (MFI) is at 13.4, indicating an oversold condition. The 50% Fibonacci retracement level at $6.41 serves as heavy support. Resistance is noted at $6.57, with a critical resistance zone between $6.57–$6.60. A no-trade zone is identified between $6.45–$6.55. Critical risk levels include $6.40, below which the 5-hour open could drop toward $6.29 or $6.15, invalidating most bullish cases. Stop-loss points are set at $6.65 for bears and $6.31 for bulls.
Bearish setups include aggressive entries at $6.46 with stops at $6.65 and targets at $6.40, $6.29, and $6.15, with risk/reward ratios of 1.5, 2.6, and 4.0. Conservative entries are at $6.55 with the same stop and targets. Bullish setups feature aggressive entries at $6.41 with stops at $6.31 and targets at $6.61, $6.71, and $6.89, with risk/reward ratios of 2.0, 3.0, and 4.8. Conservative entries are at $6.57 with the same stop and targets. Confidence levels are medium for bearish setups and low for bullish setups.
