Copper to enjoy substantial gains towards $11000 – Credit Suisse

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

Support is seen at $9719/9617 

“Copper has started a temporary breather/pullback above the crucial $10000 support and we maintain our core bullish outlook and stay bullish, 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 now ideally offers good support in case of a further pullback.”