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- Copper is consolidating previous session's spike, bias still higher.
- The pair is extending break above 200-DMA, we see scope for further upside.
- Price has edged above daily cloud and has broken strong trendline resistance at 3.145.
- The pair hit 3-month highs at 3.248 on Monday's trade before paring some gains to lose at 3.211.
- Indicators on daily charts have turned bullish, momentum is with the bulls.
- We see weakness only on retrace below 200-DMA.
Support levels - 3.20, 3.1437 (5-DMA), 3.1089 (200-DMA)
Resistance levels - 3.248 (June 5 high), 3.269 (Feb 16 high), 3.289 (Jan 15 high)
Recommendation: Good to go long on dips around 3.200/210, SL: 3.180, TP: 3.248/ 3.269/ 3.289
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