Trial now
USDCAD TECHS

Circling Major Support

US TSYS SUMMARY

Stocks and Rates Near Session Highs Late

AUDUSD TECHS

Tepid Bounce

LATAM

OUTLOOK: WEEK AHEAD

US EURODLR OPTIONS

Nice Mark for Early Put Buyer

(H1) Corrective Cycle Still In Play

COPPER TECHS
  • RES 4: $384.88 - 2.236 projection of Oct 2 - 21 rally from Nov 4 low
  • RES 3: $380.00 Round number resistance
  • RES 2: $376.25 - 2.00 projection of Oct 2 - 21 rally from Nov 4 low
  • RES 1: $373.40 - High Jan 7 and key resistance
  • PRICE: $358.95 @ 14:06 GMT Jan 15
  • SUP 1: $355.15 - Low Jan 11
  • SUP 2: $347.80 - Low Dec 23
  • SUP 3: $345.00 - Low Dec 10 and the key near-term support
  • SUP 4: $342.88 - Trendline support drawn off the Oct 2 low

Copper futures remain vulnerable short-term having reversed course on Jan 8/9 off the high of 373.40. A deeper pullback is still considered likely. The trend has been overbought for some time and a pullback will contribute to an unwinding of this condition. Attention is on the 20-day EMA that was probed earlier this week. A clear break would allow for a deeper sell-off. Key resistance is at 373.40.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com