Ryan_Gorman

Copper Cruising Higher!

COMEX:HG1!   Copper Futures
Copper was in a significant downtrend since the March 7th highs, bottoming out in July and has been trending higher from there. The precious metals have been trending higher with the dollar coming off its highs, and with this recent push higher, Copper has entered overbought territory. Going back to October of 2021, when the RSI for Copper is at or above 70, there has been an immediate decline in the price. This is not an exact science, but the market might look to take a breath and back test previous trendline resistance now acting as support.

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