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AUDUSD TECHS

Bullish Focus

EURJPY TECHS

Corrective Cycle

COPPER TECHS
  • RES 4: $376.25 - 2.00 projection of Oct 2 - 21 rally from Nov 4 low
  • RES 3: $373.40 - High Jan 7 and key resistance
  • RES 2: $367.35 - High Jan 21
  • RES 1: $364.85 - Intraday high
  • PRICE: $364.30 @ 13:33 GMT Feb 8
  • SUP 1: $349.10 - Low Jan 28 and the bear trigger
  • SUP 2: $345.00 - Low Dec 10
  • SUP 3: $343.90 - Low Dec 2
  • SUP 4: $340.00 - Round number support
Copper futures were firmer Friday with futures attempting a recovery. Recent weakness saw the contract clear at $355.15, Jan 11 low. Price has also recently tested a key trendline support drawn off the Oct 2 low. The Jan 28 low was at $349.10 and this marks a key support. A breach would strengthen a bearish case and open 340.00. While $349.10 holds, attention is on gains. The next firm resistance is at $367.35. Jan 21 high.
MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com