Copper is facing bullish pressure, potential for further upside

Copper bounced nicely from our support level to hit our resistance target previously. Price is facing bullish pressure from our first support, in line with our horizontal pullback support, 23.6% fibonacci retracement and 61.8% fibonacci extension where we could see a further upside above this level. Ichimoku cloud and 20 EMA are showing signs of bullish pressure as well, in line with our bullish bias.