| 
June 19, 2023CME Copper is down to $3.86 per pound, after ending Friday at $3.89. Overall, a 0.76% loss or 2.95 cents today.
Trend-following investors would be interested to note that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. According to asset volatility analysis, Copper's upper Bollinger Band® is at $3.92 which indicates a further downward move may follow.
Overall, while the Copper future has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
In the meantime, negative performances are also seen in other Metals as Platinum goes down 0.48% to trade around $987.2. Gold is down $5 from the beginning of the session and now trades around $1,966.2. After ending Friday's session at $1,416.2, Palladium lost $9.7 and is trading around $1,406.5.
Furthermore, United States Building Permits (May) will be released tomorrow at 12:30 UTC.
Having set a significant high of $4.27 4 months ago, the Copper future is trading 8.86% lower.
