Copper Price Forecast for Next Week

Copper Price Forecast for Next Week (7th  - 11th July 2025)

Copper held mostly flat last week as hopes for Chinese stimulus offset by robust global refined output and still-elevated inventories. Meanwhile, persistently low stocks on the LME and SHFE due to U.S. tariff-driven flows supported prices, though caution prevailed over U.S. tariff uncertainty and weak Eurozone manufacturing.

Copper Futures began the week strong, briefly breaching the 900 level, but faced stiff resistance near 905.90. A bearish engulfing/reversal candle formed at this key supply zone, hinting at short-term profit booking and supply pressure. While the larger trend remains bullish, this rejection suggests a possible pause or pullback unless ₹900 is reclaimed decisively. Price has still trading over its key moving averages i.e. 50, 100 and 200-DEMA levels placed at 874.95, 865.30 and 850.30 respectively. Daily SAR is placed at 878.10.

RSI cooled off to 57.38, slipping from the overbought zone, while MACD remains positive with values at 7.55 (MACD) and 0.62 (Signal) but histogram bars are narrowing, indicating slowing momentum. Volume activity also dropped, hinting at weak bullish conviction. A sustained close below 885 could open downside to 870; upside continuation requires a strong breakout above prev. week high with volume confirmation.

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Prediction given by Technical Research Team - Choice.