- Copper breaks above cloud top, we see scope for further upside.
- Downside remains supported above 50-DMA at 2.5668, weakness only on break below.
- Technical indicators on daily charts are biased higher, RSI is above 50 levels, Stochs are biased higher.
- Next immediate resistance on the upside is seen at 2.640 (trendline). Break above could see further gains.
- On the flipside break below 50-DMA could see test of 2.545 (trendline).
Support levels - 2.5942 (cloud top), 2.5668 (50-DMA), 2.555 (23.6% Fib retrace of 2.822 to 2.472 fall)
Resistance levels - 2.624 (June 13 high), 2.640 (trendline), 2.650 (June 9 high)
Recommendation: Good to go long on dips around 2.60, SL: 2.5945/50, TP: 2.625/ 2.640
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