Copper nears $6.87 resistance with overbought technical signals

Copper prices are approaching a critical resistance level near $6.87, following a recent rally that has pushed the metal to a double-top formation. The metal is currently trading at $6.773 on the latest 5-hour candle, within a narrow no-trade zone of $6.70 to $6.79, where further movement could trigger significant volatility. Technical analysis highlights a resistance band between $6.80 and $6.87, with short-term support anchored at $6.64, the 23.6% Fibonacci retracement level, and the 200-day simple moving average at $6.537.