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USDCAD TECHS

Stronger In a Range

AUDUSD TECHS

Weaker In A Range

US TSYS SUMMARY

Ending The Week On A Soft Note

EURJPY TECHS

Bearish Risk Growing

USDJPY TECHS

Stronger, But Still Vulnerable

US

SP500 PE Ratio vs. CPI Inflation

(H1) Fresh Trend High

COPPER TECHS
  • RES 4: $384.88 - 2.236 projection of Oct 2 - 21 rally from Nov 4 low
  • RES 3: $376.25 - 2.00 projection of Oct 2 - 21 rally from Nov 4 low
  • RES 2: $367.62 - 1.764 projection of Oct 2 - 21 rally from Nov 4 low
  • RES 1: $364.45 - Intraday high
  • PRICE: $363.15 @ 12:55 GMT Dec 18
  • SUP 1: $350.00 - Low Dec 15
  • SUP 2: $345.00 - Low Dec 10 and the key near-term support
  • SUP 3: $333.00 - Low Nov 27
  • SUP 4: $328.29 - Trendline support drawn off the Oct 2 low

Copper futures are firmer today and have traded above $362.45, Dec 11 high. The outlook remains bullish and the fresh high confirm a resumption of the uptrend. Moving average studies remain in a bull mode and this further reinforces the bullish theme. The focus is on 367.62, a Fibonacci projection. Initial firm support is $345.00, Dec 10 low. A break would dent the current bullish sentiment.

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