- March 27, 2020
- Posted by: Analysis Team
- Category: Forex News
Open interest in Copper futures markets extended the decline for yet another session on Thursday, now by just 279 contracts as per flash data from CME Group. It is worth mentioning that open interest is decreasing since March 5th. In the same line, volume went down for the second session in a row, this time by 15.9K contracts.
Copper faces interim resistance near $2.25/pound
Prices of the base metal corrected lower on Thursday amidst diminishing open interest and volume. That said, a potential bounce remains on the cards, with interim hurdle emerging around $2.25 per pound.