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Technical Forecast for Copper

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Technical Forecast for Copper

 


Copper made it almost exactly to resistance at 310.80/00 & topped out as we retest 302 lows. Today’s outlook remains weak so a break lower could target late 2011 lows of 299.40. Failure


here risks a test of long term Fibonacci support at 295.


 


310.50/00 remains tough resistance & we should struggle here again today on any bounce. However a push higher could target then 313.80, possibly 316 at a later stage this week.

The following 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

 

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