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(H3) Finds Support

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: $394.70 - High Nov 15 and the bull trigger
  • PRICE: $372.80 @ 12:55 GMT Nov 30
  • SUP 1: $357.42/354.70 - 50-day EMA / 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 a key support

Copper futures are trading firmer today and pulling away from Monday’s low of $354.70. This is a positive development and note that the latest pullback was considered corrective. A stronger rally would signal the end of the correction and suggest scope for a climb towards resistance at $394.70, the Nov 15 high and a bull trigger. On the downside, a break of $354.70 would instead highlight a bearish threat.

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