Copper price comes off nine-month high
Last week’s copper price swift advance has taken it to $4.8368, a level last traded in May 2024, before slipping back below its $4.7883 September 2024 peak.
The area between these two highs is expected to act as support in the day to come. Were it to be exceeded, the May 2024 peak at $5.1985 may be in sight.
Support below Friday’s sharp bearish reversal candle at $4.6368 can be found at the 11 February low at $4.5408.
Copper daily chart