• Copper stays on course to reach the $11000 mark - Credit Suisse

Market news

2 June 2021

Copper stays on course to reach the $11000 mark - Credit Suisse

FXStreet notes that copper (LME) remains in a well-supported uptrend and strategists at Credit Suisse stay bullish for $11000 and higher.

“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.”

“Support at $9719/9617 should continue to provide good support in case of a further pullback.”

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