As per the prior analysis, Copper Price Analysis: Bulls lurking in daily demand area, bullish extension on the cards, the price of copper has found demand in the daily support and is stacking up for a move higher for the foreseeable future.

It was stated in the prior analysis that '' we could start to see some accumulation start to come in.
''This would be expected to see the price supported in the demand area as illustrated below resulting in a subsequent bid making prospects for an upside continuation''

Besides a dip to the 78.6% Fibonacci, the price has been accumulating along the 61.8% ratio and has been respecting the dynamic trendline support so far.

On the hourly chart, the bulls need to get over the line at this point i fthere are going to be near-term prospects of a break higher.