Technical Forecast for Copper
Copper failed just below resistance at 3.3767/3800 & our a selling opportunity as we topped at 3.3725. We are stuck in a range & held just above support at 3.2989/2950 which could mark a low for the day if tested today. However a break lower is likely to see a retest of last week’s low at 3.2870/840 but below here risks a slide as far as 3.2540.
Resistance at 3.3800/3885 is likely to hold the topside again for a selling opportunity. However a break above 3.9000 should test the 200 day moving average at 3.4085 & a high for the day.
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