Copper futures remained range-bound on Monday, with prices holding around $6.7055 after slipping from an intraday high near $6.73. The metal has struggled to sustain gains above $6.86, a level that has capped advances in recent sessions.
Technical indicators suggest mixed signals. The SuperTrend remains positive at $6.58, while the Relative Strength Index sits at 61.73, approaching overbought territory. The Average Directional Index stands at 15.11, indicating weakening trend momentum. Price action also remains well above the long-term 200-day simple moving average, reflecting underlying bullish structure.
Traders are monitoring a narrow band between $6.55 and $6.62 as a potential entry zone, where the 20-day SMA and SuperTrend overlap. A break above $6.86 could open a path toward $7.00, while a move below $6.50 may trigger further downside toward $6.37. The $6.65–$6.75 range is viewed as a no-trade zone due to elevated whipsaw risk.
Risk-reward ratios vary by strategy. Aggressive bullish setups target $7.12 with a stop at $6.50, while conservative approaches aim for $7.00 with the same downside protection. On the bearish side, aggressive targets include $6.62 and $6.50, with stops set above $6.92. Conservative bearish scenarios project a decline to $6.37 under similar risk parameters.
The analysis, derived from WarrenAI’s charting tools, reflects real-time data as of 07:10 AM UTC on August 17, 2026.
