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Is Copper At Risk of Major Sell-Off?

From tickmill.com

Copper prices are back in the green today with the futures market benefiting from some early USD weakness on Monday. The market had dropped sharply again last week, hampered by a fresh push higher in USD. Looking ahead this week, with plenty of bullish risks for the greenback, copper prices are seen at risk of a fresh plunge lower. The Iran war shows no signs of slowing and with a ceasefire currently well off the table, USD safe-haven demand should reman a key theme, keeping commodities prices pressured lower. FOMC & USD Looking ahead this week, traders will be watching the Fed on Wednesday to learn how the bank ... (full story)

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  • Category: Technical Analysis