Copper Price Analysis: Bulls lurking in daily demand area, bullish extension on the cards
|- Copper bears dived in and have sent the bulls packing.
- A bid from the demand area could be on the cards for the foreseeable future.
As per last week's Copper Price Analysis, ''Dr Copper prescribes upbeat tone, marred by critical multi-timeframe supply zone,'' the price indeed hs deteriorated from the supply area with potential;y more to go for the week ahead.
Copper, prior analysis, daily and lower time frames
Copper live market, daily and H4 charts
Looking ahead, on the daily chart, we could start to see some accumulation start to come in. This would be expected to see the price supported in the demand area as illustrated below resulting in a subsequent bid making prospects for an upside continuation:
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