Summary of Copper Market Analysis

Date: 19 February 2026

Overview

The article discusses the recent price movements of copper, which has been trading within a well-defined rectangle pattern. This pattern is characterized by clear support and resistance levels, indicated by horizontal green lines on the chart.

Price Movements

In the past week, the price of copper has fluctuated between the upper and lower boundaries of this rectangle. A significant event occurred when the price temporarily broke below the lower boundary, marked in red on the chart. However, this breakdown was identified as a false breakout, as the price quickly reversed direction and climbed back into the established pattern.

Market Sentiment

The rejection of the price at the lower support level, coupled with the inability of sellers to maintain the breakdown, suggests that buyers are regaining control in this area. The successful defense of the rectangle's support level has shifted the technical bias towards a bullish outlook for copper in the short term.

Future Projections

The immediate target for copper prices remains the upper boundary of the rectangle, which represents a high-probability move within the ongoing range. The overall sentiment is bullish, provided that the price remains above the key lower support level and confirms a decisive breakout to the upside.

Trading Considerations

Traders are advised to monitor for increasing volume on any upward push towards resistance. Additionally, it is crucial to apply proper risk management strategies around the boundaries of the pattern to mitigate potential losses.

Conclusion

In summary, the analysis indicates a bullish sentiment for copper, contingent on the price maintaining its position above the lower support level and achieving a breakout above the upper boundary of the rectangle pattern.