Copper chart - Trading View
Copper was trading 1.25% higher on the day at 2.359 at around 11:30 GMT.
Price is extending upside for the 3rd straight session, bias is turning bullish.
The pair is extending upside in a 'Rising Channel' pattern and has bounced off 20-DMA support.
Technical indicators are supporting gains. RSI is above 50 and biased higher. Momentum with the bulls.
The pair has broken above 50-DMA and is testing 55-EMA resistance. Price action is above 200H MA.
Volatility is rising on the intraday charts, scope for further upside. 55-EMA is immediate resistance at 2.370.
Next major hurdle above 55-EMA aligns at 50% Fib at 2.427 ahead of channel top at 2.480.
20-DMA is strong support at 2.318. Break below will negate any bullish bias.


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