Copper Still Has The Psychological Target Price $11,000 in its Crosshairs

Copper Target Price: Copper (LME) essentially remains unchanged and continues to hover close to the previously highlighted crucial 200-day average average (DMA) at $9,497. Strategists at Credit Suisse expect the metal to eventually grind higher towards the $11,000 level.

Copper Below 200-DMA at $9,497, $8,878 and $8,810/7740 align as next supports

“Although a further copper consolidation around the 200-DMA at $9,497 should be allowed for, our slight bias is still for a turn back higher from here and an eventual sustained closing break in due course above the previous record high at $10,748, with resistance then seen next at the psychological $11,000 level.

“Below the 200-day average at $9,497, we would then identify supports next at $8,877, before more important $8,740.

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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

1 thought on “Copper Still Has The Psychological Target Price $11,000 in its Crosshairs”

  1. हॉकिश फेड की उम्मीदें इस बुधवार को नीतिगत घोषणाओं में सोने की कीमत को कम कर रही हैं। सोने की कीमत अपने दो सप्ताह के निचले स्तर के पास मँडरा रही है, जिसका भाग्य फेड की टेपरिंग की गति पर टिका है, जो अगले साल संभावित दरों में बढ़ोतरी का संकेत देगा। निवेशक सतर्क हो गए हैं और चमकदार धातु पर किसी भी तरह का दांव लगाने से परहेज कर रहे हैं।

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