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(H3) Clears Key Resistance

COPPER TECHS
  • RES 4: $419.17 - 1.50 proj of Jul 15 - Aug 26 - Sep 28 price swing
  • RES 3: $411.66 - 1.382 proj of Jul 15 - Aug 26 - Sep 28 price swing
  • RES 2: $407.00 - Low May 12
  • RES 1: $402.37 - 1.236 proj of Jul 15 - Aug 26 - Sep 28 price swing
  • PRICE: $399.65 @ 13:29 GMT Jan 9
  • SUP 1: $370.85/354.70 - Low Jan 4 and key support / Low Nov 28
  • SUP 2: $334.80 - Low Oct 31
  • SUP 3: $323.70 - Low Sep 28
  • SUP 4: $314.25 - Low Jul 15 and the major support

The Copper futures outlook is bullish and the contract is trading higher today. Price has cleared resistance at $394.70, the Nov 15 high. This strengthens bullish conditions and resumes the broader uptrend. The focus is on a stronger rally above $400.00, towards $411.66 - 1.382 projection of the Jul - Aug - Sep price swing from last year. Key support lies at $370.85, the Jan 4 low.

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