Technical forecast for Copper

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Copper made it to 7442/44 but topped almost exactly here. We do look like we have run out of momentum for this week. Immediate support is 7369/67 but below here we are looking for 7315 possibly a test of good support at 7255/50.

7442/44 remains a challenge today but above here look for May highs of 7480. We are overbought so we should struggle here but if we continue higher look for tough resistance at 7554 this week.

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason always had an interest in technical analysis throughout his trading career but began to study this area in depth from 2006. www.daytradeideas.com has established itself as the leading provider of... More