Copper futures for March delivery stretched their rally to a fresh eight-month peak of 2.8794 earlier today, exiting from the squeeze Bollinger Band. The near-term bias is looking bullish as the RSI is heading upwards near the 70 level, while the MACD surpassed its red trigger line, remaining in the positive territory. Should the price make another move higher, it’s likely to meet resistance at 2.9180 as this level has capped prices since late April 2019. A successful break above this key [..]
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