FX-COPPER chart - Trading View
Copper bulls remain in charge, carry prices to new highs since February 2013. Outlook continues to remain bullish with no major signs of exhaustion.
The metal has rallied on hopes that economic stimulus in the US will further boost demand, and underpinned by decade-low China stocks.
Data shows that Chinese inventories have dropped to near decade lows on robust demand from factories.
Prices have eased slightly from multi-year highs at 3.779 and the pair was trading at 3.762 at around 10:45 GMT.
Price action finds major trendline resistance at 3.775. Decisive break above required for upside continuation. Minor pullbacks likely on account of overbought oscillators.
