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(H2) Trades Through Key Support

COPPER TECHS
  • RES 4: $487.35 - 1.764 proj of Aug 19 - Sep 13 - Sep 21 price swing
  • RES 3: $477.70/83.40 - High Oct 18 / High May 10 and the bull trigger
  • RES 2: $451.15/64.08 - High Nov 26 / 61.8% of Oct - Nov sell-off
  • RES 1: $439.80 - High Dec 9
  • PRICE: $419.05 @ 13:30 GMT Dec 15
  • SUP 1: $417.45 - Intraday low
  • SUP 2: $409.90 - Low Oct 6
  • SUP 3: $404.00/401.30 - Low Sep 30 / Low Sep 21
  • SUP 4: $397.05 - Low Aug 19

Copper futures have traded lower today and breached key short-term support at $420.00. The break reinforces a bearish threat and signals scope for a deeper pullback. Attention is on $409.90, Oct 6 low. Moving average studies have recently crossed into bear mode and this set-up highlights the current bear cycle. A firm resistance has been defined at $439.80, the Dec 9 high where a break is required to ease the risk of further weakness near-term.

Energy BulletsCommodities
Energy BulletsCommodities

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