Copper Tests 14-Month Support

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Copper technical analysis shows prices pulling back from multi-year resistance alongside gold and silver, towards a 14-month uptrend support.

Razan Hilal, StoneX Media Market Analyst, walks through copper's monthly and daily charts and the support lines in play.

A bearish monthly RSI divergence is raising the risk of a longer-term pullback, while the daily chart shows a potential diamond reversal pattern. The golden ratio Fibonacci retracement lines up with copper's contracting formation since 2017, and a breakout above this year's highs would bring AI demand back into focus.

This content was created by an affiliate of FOREX.com and represents the views and opinions of the author/speakers, not the views and opinions of Forex.com, StoneX Group Inc., or its subsidiaries. The content has not been independently reviewed by Forex.com.

X: @Rh_waves

 

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