Copper (LME) remains in a well supported uptrend and strategists at Credit Suisse stay bullish for $11000 and higher.
The $9719/9617 area offers solid support
“Copper extends its temporary breather/pullback near the crucial $10000 level and we maintain our core bullish outlook, with resistance seen next at the psychological $11000 mark, which we would expect to cap the market, at least temporarily.”
“A direct break above $11000 can see next projection resistance at $11210, then $11440.”
“Support at $9719/9617 should continue to provide good support in case of a further pullback, which however is not our base case.”
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