Copper Forecast: Potential Price Rise Ahead

The price of the Australian dollar rebounded from the resistance level of 0.6798 and formed engulfing at the end of the trading week. The price of the currency pair AUD/USD is likely to drop and hit the level of 0.6600 right at the beginning of the next trading week. So, let’s observe whether this scenario is going to work out.

The price of NVIDIA stocks is currently testing the level of 118. In this case, there are two possible scenarios of how things might go. The price of this asset might rebound from the supporting level of 118 and rise to the level of 140. On the other hand, it might break this level through and drop to the level of 95. Hence, at this point it would be very important to follow the price movements around the level of 118 to forecast the upcoming sentiment.

The price of the copper broke the daily downtrend. Now, it is rebounding to the broken trendline. Also, it is very important to note that the downtrend is located right next to a very strong psychological support level of 4.000. Therefore, the price of this asset might potentially rebound from the crossing point of these trendlines and give rise to the new ascending trend. So, let’s observe what might happen next.

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