Trading lower, Copper is currently down 3.85 cents as it ranges between $3.36 and $3.44 so far today.
Amid the market gloom, United States NY Empire State Manufacturing Index (Oct) came out at -9.1, while a consensus of analysts was expecting -4.
Copper's lower Bollinger band is at $3.32, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
Technical analysis shows that the Copper future (currently on a downtrend) might reverse course and start going up in the short term.
In the meantime, negative performances are also seen in other Metals as Gold stumbles 0.43% to trade around $1,657. Silver is down to $18.65, losing 6.9 cents, after closing at $18.72 in the preceding trading session.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as tomorrow at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to 1.55 million from the preceding figure of 9.88 million.
Furthermore, United States Building Permits (Sep) is expected tomorrow at 12:30 UTC.
Copper traded as high as $4.92 before shedding 28.35% lower over the past six months.