Market Overview

Technical Forecast for Copper

Technical Forecast for Copper
Copper did break lower to target late 2011 lows of 299.40 as expected. Failure here risks a test of long term Fibonacci support at 295 today. We are getting very oversold so there is a good chance of a low for the day & possibly for the one month correction.
Resistance at 300.50-301.50 then 304.50/00 which could hold the topside.

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


Related Articles

View Comments and Join the Discussion!