COPPER chart - Trading View
Copper has resume upside after a brief pause on Thursday's trade. Traders ignore Gravestone Doji formed on the previous session's candle, bias remains bullish.
The pair was trading 0.79% higher on the day at 4.518 at around 12:00 GMT, after closing 0.22% lower in the previous session.
Momentum is strongly bullish. Oscillators are at overbought levels, but no signs of reversal seen.
Analysis of GMMA indicator shows major and minor trend are strongly bullish on the daily, weekly and monthly charts.
Technical indicators also support further upside in the pair. The pair has erased early losses and set to extend gains.
Overbought oscillators warrant caution. That said, pullbacks are likely to be shallow. Major weakness only below 55-EMA and daily cloud.
