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(H3) Impulsive Bull Run

COPPER TECHS
  • RES 4: $457.65 - High Feb 2 2022
  • RES 3: $451.00 - 1.764 proj of Jul 15 - Aug 26 - Sep 28 price swing
  • RES 2: $440.00 - Round number resistance
  • RES 1: $435.98 - 1.764 proj of Jul 15 - Aug 26 - Sep 28 price swing
  • PRICE: $431.80 @ 13:28 GMT Jan 18
  • SUP 1: $411.05/394.70 - Low Jan 17 / High Nov 14
  • SUP 2: $370.85/354.70 - Low Jan 4 and key support / Low Nov 28
  • SUP 3: $334.80 - Low Oct 31
  • SUP 4: $323.70 - Low Sep 28

Copper futures trend conditions remain bullish and the contract has traded higher today. The move marks an extension of last week’s bullish session that highlights an acceleration of the bull cycle. Price has cleared $394.70, Nov 14 high. This has strengthened bullish conditions and confirms a resumption of the broader uptrend. Price has also traded through $400.00 and the focus is on $435.98, a Fibonacci projection. Key support lies at $370.85, Jan 4 low.

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