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Copper Price Forecast: Bullish Breakout Pacing Towards Yearly High
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Copper Price Outlook:
The recent symmetrical triangle consolidation yielded a bullish resolution as anticipated in the prior copper price forecast update. Now, copper prices may be set for a return to their yearly high – and then some.
A drop in global bond yields alongside roundly positive economic news has increased the growth appeal of copper prices, while news flow otherwise has been encouraging.
The long-term view (both 1Q 21 and 2Q 21 top opportunities) remains on track, insofar as the multi-year trendline break suggests that a bullish view is appropriate for copper prices.