Copper breakout targets 10,160 on renewed uptrend – Société Générale
Source Fxstreet
LME Copper has regained strong upward momentum after clearing the 50-day moving average, setting the stage for a potential move toward multi-month highs, Société Générale's FX analysts note, Société Générale's FX analysts note.
LME Copper eyes higher peaks
"LME Copper established itself above the 50-DMA recently and broke out from a base. This has resulted in a steady up move. Daily MACD remains anchored within positive territory highlighting prevalence of upward momentum."
"LME Copper is likely to inch higher gradually towards projections of 9940/9975 and perhaps even towards the graphical level of 10160 representing the peaks of September 2024 and March 2025. If a short-term pullback develops, the 50-DMA near 9560 may provide support."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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