Technical Forecast for Copper

Copper pushed higher as expected but we have not yet reached our next target of 325.20/30. This could hold the topside if seen today but a push higher may stretch as far as 327.00/50. We could expect a high for the day here so exit longs & try shorts with stops above 328.25.

 

Failure to hold above 321.50 however could trigger a drift lower towards 318.50. This could hold the downside with the outlook more positive but if we continue lower this risks another test of last week’s low at 316.30/00.