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(H3) Sights Are On 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: $394.70 - High Nov 15 and the bull trigger
  • PRICE: $382.95 @ 10:52 GMT Dec 30
  • SUP 1: $371.18/354.70 - 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

The Copper futures outlook is bullish and moving average studies continue to highlight an uptrend. A resumption of strength would pave the way for a climb towards $394.70, the Nov 15 high and a bull trigger. Clearance of this level would strengthen bullish conditions and resume the broader uptrend. Key support lies at $354.70, Nov 28 low. A break of this level would highlight a bearish threat.

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