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W resources plc

Copper Futures: Recovery expected to continue

According to preliminary readings from CME Group for Copper futures markets, open interest and volume increased by around 4.7K contracts and around 17.6K contracts, respectively, on Wednesday.

Copper seen retaking 2.60 and above

Prices of the base metal keeps the rebound from oversold levels well and sound for the time being. That said, further upside is expected amidst rising open interest and volume, with the initial target coming in at 2.6395 (the 38.2% Fibo of the January-February sell-off).

W Resources Plc (LON:WRES) engages in the exploration and development of tungsten, tin, copper, and gold properties.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.