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(H1) HGZ0 Bullish Trend Resumes

COPPER TECHS
  • RES 4: $339.70 1.00 proj of the Oc 2 - 21 rally from Nov 4
  • RES 3: $332.20 - High Dec 28, 2017 (cont)
  • RES 2: $331.55 - High Jun 7, 2018 (cont)
  • RES 1: $328.65 - Intraday high
  • PRICE: $327.40 @ 12:36 GMT Nov 20
  • SUP 1: $318.55 - Low Nov 19
  • SUP 2: $313.45 Low NOv 13
  • SUP 3: $310.45 - Low Nov 10
  • SUP 4: $303.125 - Low Nov4 and the bear trigger

Copper futures are firmer today and have traded above the recent high of $329.95, Nov 16 high. The break higher confirms a resumption of the underlying uptrend and maintains the bullish price sequence of higher highs and higher lows. Moving average studies maintain a bullish structure too, reinforcing the current trend condition. The focus is on $331.55 next, Jun 7, 2018 high (cont). Support lies at $318.55, Nov 19 low.

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