Copper prices are approaching support, potential bounce

١٥ مارس ٢٠٢١

Copper prices are approaching our first support, in line with our 61.8% fibonacci retracement, graphical support area and 100% fibonacci extension where we could see a bounce above this level to our first resistance target. A break above our upside confirmation level could provide the bullish acceleration to our first resistance target. Ichimoku cloud is showing signs of bullish pressure as well, in line with our bullish bias.