Copper futures have broken through a critical resistance level, signaling that the bullish trend established over the past month remains intact.
The August contract, which recently rebounded from support at ₹1,325 per kilogram, has now surpassed the ₹1,360 threshold, opening the door for further upside.
This move extends a rally that has pushed copper prices more than 5% higher since the beginning of July.
Current trading shows the contract at ₹1,368 per kilogram, reflecting sustained buying interest despite a minor correction earlier in the week.
The price action indicates a strengthening bullish trajectory for the industrial metal.
After bouncing off the 21-day moving average at ₹1,325 last week, the contract's ability to clear the ₹1,360 resistance level is viewed by technical analysts as a catalyst for additional gains.
This move extends a rally that has pushed copper prices more than 5% higher since the beginning of July.