Technical analysis suggests copper futures maintain upward momentum with an incomplete three-swing sequence from the 6.2820 low.
Copper futures (HG #F) continue to show bullish momentum, trading within an Elliott Wave structure that indicates further upside potential. The current rally remains constructive, with buyers maintaining control as the price holds an incomplete three-swing sequence from the June 6.2820 low.
The pattern suggests sustained buying interest, though the rally has yet to complete its full wave structure. Prior resistance levels have been breached, reinforcing the near-term bullish outlook. No immediate reversal signals have emerged, keeping focus on higher price targets.
Market participants are monitoring the technical setup for confirmation of the next leg higher, with no significant pullback yet materializing.