Dr Copper prescribes upbeat tone, marred by critical multi-timeframe supply zone

On the hourly time frame, the rally is parabolic and likely in need of a meanwhile correction in the coming hours. There is a case for the move back towards the prior highs near 4.4370. There has been a more positive outlook for China with restrictions being eased which has been supporting base metals as … Read more

Copper snaps three-day downtrend around $4.30 on USD weakness, US PCE Inflation eyed

Copper rebounds from weekly low, picks up bids of late. Mixed sentiment, downbeat US data directs US dollar towards refreshing monthly low. China data, fears of economic slowdown poke metal buyers. Copper futures on COMEX recall buyers after three days of rejections as the US dollar weakness underpins commodity buying. That said, the quote rises … Read more