Copper is facing bullish pressure, potential for further upside

23 Şub 2021

Copper bounced nicely from our support level to hit our resistance target previously. Price is facing bullish pressure from our first support, in line with our horizontal overlap support, 23.6% fibonacci retracement where we could see a further upside above this level. A break above our upside confirmation level could provide the bullish acceleration to our first resistance target. Ichimoku cloud is showing signs of bullish pressure as well, in line with our bullish bias.