After closing the previous trading day at $3.4, Copper is up to $3.46 per pound, which makes for a move of 1.83%/6.2 cents today.
United States New Home Sales (Sep) is next today at 14:00 UTC.
On the flip side, highly important Consumer Confidence data from United States beat analyst expectations of 106.5 with a reading of 102.5.
At the same time, United States API Weekly Crude Oil Stock came out at 4.52 million, while a consensus of analysts was expecting 200,000. United States 2-Year Note Auction released yesterday at 17:00 UTC with a figure of 4.46, while the previous figure was 4.29.
Copper's upper Bollinger Band® is at $3.54, this is a slight indication of a slowdown.
Examining the technical analysis landscape, CME Copper is likely to reverse course and start pointing downward in the short term.
Rallies can also be seen in other Metals, Gold is up 1.16%. Having closed the previous session at $19.35, Silver is up 1.97% today to currently trade at around $19.73. Platinum climbs 2.17% to trade around $939.7.
Today's gains are adding to bullish investor sentiment as robust macro data is expected for release later today; United States GDP is projected to outperform its last figure with 2.4, having previously been at -0.6. The figure will be published tomorrow at 12:30 UTC. United States Crude Oil Inventories is projected to outperform its last figure with 1 million. It previously stood at -1.73 million; data will be released today at 14:30 UTC.
Also worthy of note, as things stand, upcoming United States Core Durable Goods Orders data is projected to fall short of market expectations with newly published data of 0.2%, following on from the preceding figure of 0.3%. New data is set to be published tomorrow at 12:30 UTC.
Approximately 7 months ago, the Copper future reached a significant high of $4.92 but has struggled to hold onto its gains and declined 30.93% since then.