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Copper Futures: green light for extra gains

CME Group’s advanced readings for Copper futures markets noted open interest rose for the second straight session on Monday, this time by nearly 6.5K contracts. Volume followed suit and rose by almost 21K contracts, reversing at the same time two consecutive drops.

Copper could probe the 2.90 region

The upbeat momentum in the riskier assets is also reflected in the rally of the base-metal, which continues to hover around 2020 highs in the 2.85 neighbourhood. That said, and amidst rising open interest and volume, there is still scope for the continuation of the bullish move in the near term to, initially, the key barrier at 2.90 the figure.

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