Copper Futures: Rebound looks likely near-term

CME Group’s flash data for Copper futures markets noted open interest and volume shrunk by just 478 contracts and nearly 11K contracts, respectively, on Tuesday.

Copper still capped by 2.6250

Prices of the base metal corrected lower on Tuesday after failing once again in the vicinity of the 2.6250 barrier. Declining open interest and volume coupled with the negative price action hint at the likeliness that a rebound could be on the cards in the short-term.