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- Copper picks up momentum, heading towards the $8895 mark - Credit Suisse
Copper picks up momentum, heading towards the $8895 mark - Credit Suisse
FXStreet notes that copper (LME) is picking up momentum and the long-term outlook stays clearly bullish. The Credit Suisse analyst team targets the $8895 neighborhood.
“Copper (LME) has successfully broken out from its two-month consolidation and is now also above $8346, the high from 2013. With a multi-year base in place, we maintain our core bullish outlook and look for a rise toward $8895, the highlighted ‘flag’ price target.”
“Support is seen at $7804, the 63-day average before $7705/7673 recent lows.”
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