COPPER TECHS: (Z4) Pierces The 50-Day EMA 

• RES 4: $511.20 - High May 20 and key medium-term resistance  
• RES 3: $488.95 - High May 29 
• RES 2: $464.60 - High Jul 5 and a key short-term resistance 
• RES 1: $431.85/444.30 - High Aug 27 / High Jul 18     
• PRICE: $423.15 @ 14:19 BST Aug 28
• SUP 1: $396.45 - Low Aug 7 and the bear trigger 
• SUP 2: $387.40 - Low Mar 1
• SUP 3: $374.65 - Low Feb 9 and key support 
• SUP 4: $370.42 - 1.236 proj of the May 20 - Jun 27 - Jul 5 price swing    

A bear cycle in Copper futures remains intact and the recent extension down reinforces current conditions. The recovery that started Aug 7 is considered corrective - for now. A resumption of weakness would open $396.45, the Aug 7 low and a break of this support would expose $374.65, the Feb 9 low. The 50-day EMA has been pierced and this is a concern for bears. A clear break of it would signal scope for stronger gains towards 444.30, the Jul 18 high.