Copper stays on course to reach the $11000 mark – Credit Suisse

Copper (LME) remains in a well supported uptrend and strategists at Credit Suisse stay bullish for $11000 and higher.

The $9719/9617 area offers solid support

“Copper extends its temporary breather/pullback near the crucial $10000 level and we maintain our core bullish outlook, with resistance seen next at the psychological $11000 mark, which we would expect to cap the market, at least temporarily.” 

“A direct break above $11000 can see next projection resistance at $11210, then $11440.”

“Support at $9719/9617 should continue to provide good support in case of a further pullback, which however is not our base case.”