Copper Price Forecast for Next Week

Copper Price Forecast for Next Week (11th - 16th January 2026)

Copper Futures witnessed a phase of profit booking after an unexpected sharp rally, with prices correcting by ~8.4% from recent highs. The contract marked a weekly low at 1231.30 before recovering strongly to close the week at 1281.30, indicating buying interest emerging from lower levels. Despite the corrective move, the broader structure remains constructive as prices continue to hold comfortably above all key moving averages, signaling that the decline was corrective rather than trend-reversing.

The MCX Copper contract remains firmly positioned above its 20-, 50-, 100- and 200-DEMA, placed at 1232, 1147, 1079 and 1022, respectively. This multi-layered moving-average alignment highlights strong underlying support and confirms the continuation of the primary uptrend. Open Interest witnessed a decline of 600 lots during the week, suggesting that the recent dip was driven by long unwinding and profit booking, rather than aggressive fresh short formation.

RSI has cooled off from higher levels and is stabilizing in the bullish zone, reflecting easing overbought conditions while maintaining positive bias. The oscillator structure continues to indicate trend sustainability, with price respecting key averages on declines. Volume behavior suggests controlled participation, reinforcing the view of a healthy pullback within an ongoing bullish framework.

Overall, Copper maintains a positive medium-term outlook, with the recent correction acting as a reset after a sharp rally. Reversal from support levels reinforces the buy-on-dips strategy, as long as prices sustain above key moving-average supports. Traders should remain attentive to short-term volatility, while the broader trend bias stays firmly positive.

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Prediction given by Technical Research Team - Choice.