Technical Forecast for Copper

Copper caught us out with a break above the trend line at 7388. If we can hold above here today look for 7442/44 & possibly May highs of 7480. We are overbought so we should struggle here but if we continue higher look for tough resistance at 7554 this week. 

 

Immediate support is 7369/67 which could hold the downside but a break lower may mean we have seen the top for this week. We could then drift to 7315 possibly towards good support at 7255/50.