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(H1) Continues To Climb

COPPER TECHS
  • RES 4: $348.33 - 1.236 proj of the Oct 2 - 21 rally from Nov 4
  • RES 3: $340.00 - Round number resistance
  • RES 2: $339.70 - 1.00 proj of the Oct 2 - 21 rally from Nov 4
  • RES 1: $337.20 - Intraday high
  • PRICE: $335.30 @ 12:08 GMT Nov 26
  • SUP 1: $325.55 - Low Nov 23
  • SUP 2: $318.55 - Low Nov 19
  • SUP 3: $316.12 - Bull channel base drawn off the Oct 2 low
  • SUP 4: $310.45 - Low Nov 10

Copper futures remain bullish and continue to push higher as momentum remains firm following the Nov 20 break of resistance at $326.95, Nov 16 high. The break confirmed a resumption of the underlying uptrend and maintains the bullish price sequence of higher highs and higher lows. MA studies are bullish too, reinforcing current trend conditions. The focus is on $339.70 next, a Fibonacci projection. Firm support is at $318.55, Nov 19 low.

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