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CORN TECHS

(N1) Needle Still Points North

SOY TECHS

(N1) Bullish Theme

COPPER TECHS

(K1) Breaks Out Of Its Recent Range

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USD

Greenback Weakness Resumes into NY Hours

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  • RES 4: 1.4182 High Feb 25
  • RES 3: 1.4167 Bull channel top drawn off the Nov 2, 2020 low
  • RES 2: 1.4017 High Mar 4
  • RES 1: 1.3907 High Mar 5
  • PRICE: 1.3815 @ 17:10 GMT Mar 8
  • SUP 1: 1.3779 Low Mar 8
  • SUP 2: 1.3760 50-day EMA
  • SUP 3: 1.3702 Bull channel drawn off the Nov 2, 2020 low.
  • SUP 4: 1.3663 Low May 5

Cable remained soft Friday. Price has cleared the 20-day EMA and in turn has also breached a number of near-term support levels. The focus is on 1.3760 next, the 50-day EMA. Clearance of this average would leave the bull channel support at 1.3711 exposed. The channel is drawn off the Nov 2, 2020 low and a move below this support would highlight an important short-term reversal. Firm resistance is at 1.4017, Mar 4 high.