Rising Yields and Dollar Weigh on Copper Prices

Copper futures have taken a hit over the past two sessions, plummeting by 3.5% to current prices of $6.3433.

This decline comes as rising U.S. Treasury yields and a stronger dollar reduce commodity appeal.

The stronger dollar increases copper's cost for international buyers, making it less attractive to purchase at the current price point.

Technically, copper is expected to trade sideways in the $6.2854, $6.4432 range, with negative momentum and a higher probability of further downside.