According to flash data from CME Group for Copper futures markets, open interest went up for the third consecutive session on Thursday, this time by nearly 4.4K contracts. On the opposite direction, volume extended the choppy activity and shrunk by around 27.8K contracts. Copper: Recovery stalled ahead of Fibo retracement The 3-day recovery in prices of the base metal seems to have met strong resistance in the proximity of the Fibo retracement of the January-February sell-off near 2.64 on Thursday. Rising open interest coupled with the failed attempt to extend the bounce leaves the scenario for some correction in the very near-term. In addition, the uptick in volume looks supportive of this view. FX Street 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 Post By FX Street FXStreet News share Read Next Russian Central Bank cuts key policy rate to 6% from 6.25% FX Street 2 years According to flash data from CME Group for Copper futures markets, open interest went up for the third consecutive session on Thursday, this time by nearly 4.4K contracts. On the opposite direction, volume extended the choppy activity and shrunk by around 27.8K contracts. Copper: Recovery stalled ahead of Fibo retracement The 3-day recovery in prices of the base metal seems to have met strong resistance in the proximity of the Fibo retracement of the January-February sell-off near 2.64 on Thursday. Rising open interest coupled with the failed attempt to extend the bounce leaves the scenario for some correction in the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
