Technical forecast for Copper

copper

Copper pushed higher as expected but we have not yet reached our next target of 325.20/30. This could hold the topside if seen today but a push higher may stretch as far as 327.00/50. We could expect a high for the day here so exit longs & try shorts with stops above 328.25.

Failure to hold above 321.50 however could trigger a drift lower towards 318.50. This could hold the downside with the outlook more positive but if we continue lower this risks another test of last week’s low at 316.30/00.

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