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Technical Forecast for Copper

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Technical Forecast for Copper

 

Copper made it to 7442/44 but topped almost exactly here. We do look like we have run out of momentum for this week. Immediate support is 7369/67 but below here we are looking for 7315 possibly a test of good support at 7255/50.
 
7442/44 remains a challenge today but above here look for 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.

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Posted-In: Technicals Commodities Markets Trading Ideas

 

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