Market Overview

Technical Forecast for Copper

Technical Forecast for Copper


Copper just held support at 7130 as hoped & headed higher beating resistance at 7212/13 as we look for 7314. We should struggle here but above 7325 could allow a push on towards resistance at 7367/69. This level should be a challenge & it may be wise to exit longs & try shorts a stop above the trend line at 7388.
Support at 7212 but below here could see a retest of 7130/20. We could try longs here again today , with stops below 7100. A break lower then risks a slide to support at 7047 which could hold the downside.

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Technicals Commodities Markets Trading Ideas


Related Articles

View Comments and Join the Discussion!