Commodities
Copper Futures Stuck Below $6.62 Resistance Zone
Copper futures are hovering near their lows as they struggle to break above the $6.62 ceiling, according to TradingPedia.
The price of copper is currently trading at $6.484 on the 5-hour chart, and despite a short-term bounce, the broader market structure still favors downside continuation unless the market can push convincingly through the $6.62 resistance zone.
The SuperTrend indicator is capping price at $6.6922, while the Ichimoku cloud is acting as overhead resistance beginning at $6.5175, reinforcing a bearish technical environment.