Copper prices are facing bullish pressure, potential upside

Copper prices are testing our first support in line with our 23.6% fibonacci retracement, 61.8% fibonacci extension and ascending trend line where we could see a further upside above this level. EMA and Ichimoku cloud are showing signs of bullish pressure as well, in line with our bullish bias. A break above our upside confirmation level in line with our horizontal swing high resistance could provide the bullish acceleration to our first resistance target.