Copper trapped in $6.60-$6.74 range: Breakout watch live

Copper's price is currently hovering between $6.60 and $6.74, with traders eagerly awaiting a breakout or breakdown from this range. The market's 5-hour chart indicates a tight range, making it a challenging zone for traders to navigate. The long-term trend remains intact, as copper is trading above the 200-period Simple Moving Average (SMA), but the price is currently stuck between its key moving averages and major resistance levels.

If the price breaks above $6.74, bulls will be hopeful for further upside, while bears will eye a breakdown below $6.52 for potential downside. Traders are advised to wait for conviction and respect the boundaries set by bigger players before making any moves.