Copper futures are maintaining a bullish trajectory after a month-long rally that has pushed prices more than 5% higher since the beginning of July.
Despite some moderation in trading activity earlier this week, the broader technical structure remains intact, with the metal having broken through a critical resistance level that market participants view as a catalyst for continued gains.
The price action suggests a strengthening trend, with traders advised to consider rolling positions into August contracts to capture potential further upside.
The sustained momentum indicates that buying interest remains robust, even as short-term volatility introduces minor pullbacks.
This development follows a period of consolidation where copper futures on the Multi Commodity Exchange (MCX) had previously encountered significant technical resistance at ₹1,320 and ₹1,340 per kilogram, which had capped a three-week price recovery.
The recent breakout above these levels marks a shift in market sentiment, moving from cautious recovery to a more decisive bullish phase.