Now copper is trading around $3.0693 & as we can see on charts, its reaching to the lower tradeline current . However the momentum is very strong & it may break the channel , still few more indicators providing best opportunity for a shot covering at these levels. Current level represent 78.6% feb ret level while a most possible is available at this point.
On fundamental side, improving US economic data may support copper for a while.
Based on above studies, it is possible for copper to move upside for possible level $3.13 & then $3.17. However a day close below $3.04 will reject the forecast.
Note - above view is based on technical studies & do not represent our buy-sell recommendation.
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