Home Copper Futures: extra upside needs more conviction

Copper Futures: extra upside needs more conviction

Published date: 17 Jan. 2020 | 10:17

Open interest in Copper futures markets rose by around 4.4K contracts on Thursday, keeping the uptrend alive for the fifth session in a row according to advanced figures from CME Group. In the same direction, volume reversed the previous drop and rose by around 36K contracts.

Copper: temporary top in place?

Further gains in Copper might be tricky in the near-term following Thursday’s negative price action in combination with higher open interest and volume. That said, Thursday’s new YTD peaks beyond the 2.88 mark could be considered as an interim top.

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

View all posts by FX Street

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.