After four days of declines, the Copper future is up 2.25 cents today

After closing the previous trading day at $4, the Copper future is up to $4.02 per pound, which makes for a move of 0.9%/2.25 cents today.

United States Initial Jobless Claims data will be released today at 12:30 UTC, with an expected decline to 200,000.

On the flip side, United States Crude Oil Inventories released earlier showed a marked improvement to -3.74 million from the preceding data of -7.49 million, but fell short of the -2.33 million figure forecast by a consensus of market analysts.

At the same time, United States ISM Non-Manufacturing PMI (Mar) came out at 51.2, while a consensus of analysts was expecting 54.5. United States ADP Nonfarm Employment Change (Mar) released yesterday at 12:15 UTC with a figure of 145,000, while the previous figure was 261,000.

'Bullish Harami' is a candlestick chart indicator used for detecting reversals in an existing bear trend. It is generally indicated by a small price increase that's contained within a broader downward price movement and is commonly associated with a bearish trend coming to an end. CME Copper's lower Bollinger Band® is at $3.95, indicating that the market is oversold and fertile for new buyers.

Examining the technical analysis landscape, the Copper future might continue its downtrend in the short term.

Rallies can also be seen in other Metals, Platinum is up 1.71%.

Also worthy of note, as things stand, upcoming United States Non Farm Payrolls data is projected to fall short of market expectations with newly published data of 240,000, following on from the preceding figure of 311,000. New data is set to be published tomorrow at 12:30 UTC. United States Initial Jobless Claims projected to come out at 200,000 — worse than previous data of 198,000; data will be released today at 12:30 UTC.

Furthermore, the market is looking at United States Unemployment Rate is expected tomorrow at 12:30 UTC.

The commodity has been trending lower for about a month. The Copper future hit a significant low of $3.21 around 8 months ago, but has since recovered 24.17%.