Watching for a break in Copper ($FFR)
Been keeping a close eye on copper, specifically $FFR. It's been hovering around that 37.00 mark for a bit, testing it pretty consistently today, even hitting 37.0399. To me, a sustained break above that level could signal further upside potential. However, the risk to that scenario, as I see it, would be a strong rejection from this area, particularly if we dip back below 36.50. That would suggest the resistance is holding firm, and we might be looking at a retest of the lower range from a few days back. Just my current read on it, obviously, things can change quickly.
Interesting take on copper. I've been watching it too but haven't identified those specific price levels yet. What makes you focus on 37.00 and 36.50?