Copper Futures: Extra gains stay in the pipeline

In light of preliminary readings for Copper futures markets from CME Group, open interest posted the fifth consecutive advance, now by around 1.2K contracts. In the same direction, volume extended the choppy performance and retreated by around 74.5K contracts.

Strong resistance emerges at 2.6250

Tuesday’s positive price action is expected to continue in the very near-term on the back of rising open interest and volume. However, a more serious bullish move needs to clear the solid barrier at the 2.6250 region.