Open interest in Copper futures markets extended the decline for yet another session on Thursday, now by just 279 contracts as per flash data from CME Group. It is worth mentioning that open interest is decreasing since March 5th. In the same line, volume went down for the second session in a row, this time by 15.9K contracts.
Copper faces interim resistance near $2.25/pound
Prices of the base metal corrected lower on Thursday amidst diminishing open interest and volume. That said, a potential bounce remains on the cards, with interim hurdle emerging around $2.25 per pound.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.