CME COMEX: HG Copper futures Long-term forecast, down to 2.0
Copper prices (CME COMEX: HG futures) are likely to drop significantly. Supports could be the level of 2.2 and 2.0.
Copper prices had risen a lot from the end of 2016 to the end of 2017. I do not think there was any reason for the copper to rise that much. If I am right, the prices of copper will go down below 2.0, maybe to 1.5. If the copper prices go up with any reason, it will be a good opportunity to sell.
There are many opinions about copper. However, they do not seem to offer a valid reason for the price of copper to rise.
[Copper futures prices monthly chart]
Copper prices had risen a lot from the end of 2016 to the end of 2017. I do not think there was any reason for the copper to rise that much. If I am right, the prices of copper will go down below 2.0, maybe to 1.5. If the copper prices go up with any reason, it will be a good opportunity to sell.
There are many opinions about copper. However, they do not seem to offer a valid reason for the price of copper to rise.
[Copper futures prices monthly chart]