According to preliminary readings from CME Group for Copper futures markets, open interest and volume increased by around 4.7K contracts and around 17.6K contracts, respectively, on Wednesday.
Copper seen retaking 2.60 and above
Prices of the base metal keeps the rebound from oversold levels well and sound for the time being. That said, further upside is expected amidst rising open interest and volume, with the initial target coming in at 2.6395 (the 38.2% Fibo of the January-February sell-off).
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