Copper is facing bullish pressure, potential for further rise
Price is facing bullish pressure from our first support in line with our 61.8% Fibonacci extension, 76.4% Fibonacci retracement and horizontal swing low support, where we remain bullish above this level. A further rise above first support at 3.47033 towards first resistance at 3.52870 could be possible. It is also worth noting that RSI has just bounced from the support level at 35.09, which shows bullish pressure in line with our analysis.
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Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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