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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) Holding Above Support

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: $362.30 @ 14:09 GMT Jan 25
  • SUP 1: $355.15 - Low Jan 11 and a bear trigger
  • SUP 2: $347.80 - Low Dec 23
  • SUP 3: $346.94/345.00 - Trendline drawn off Oct 2 low / Low Dec 10
  • SUP 4: $343.90 - Low Dec 2

Copper futures are consolidating and remain above support at $355.15, Jan 11 low. Price reversed course on Jan 8/9 from the high of 373.40. The trend has been overbought for some time and a pullback would allow this condition to unwind. Attention remains on the 20-day EMA that has recently been probed. A break of the average and of $355.15 would allow for a deeper sell-off. Key resistance is 373.40, Jan 1 high. A breach resumes the uptrend.

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