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.

Ross J Burland FXStreet

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:

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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