Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

Copper hit fresh 7-year highs at 3.642, no signs of exhaustion seen

COPPER chart - Trading View

Copper was trading 0.38% higher on the day at 3.624 at around 09:45 GMT.

The pair is extending previous month's stellar performance and has gained over 5% on the month till date.

Bullish bias boosted after price action broke major trendline resistance at 3.30 in the previous month's trade.

The pair is extending bull run for the 7th straight week, price has hit levels unseen since Feb 2013.

Technical indicators are bullishly aligned, keeping scope for further upside. No major signs of exhaustion seen.

Overbought oscillators raise possibility of minor downside. Pullbacks are likely to be shallow. Bullish invalidation only below daily cloud.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.