Free Trial

(H3) Trend Needle Points North

COPPER TECHS
  • RES 4: $440.00 - Round number resistance
  • RES 3: $435.98 - 1.764 proj of Jul 15 - Aug 26 - Sep 28 price swing
  • RES 2: $426.69 - 1.618 proj of Jul 15 - Aug 26 - Sep 28 price swing
  • RES 1: $422.25 - High Jan 13
  • PRICE: $414.75 @ 13:52 GMT Jan 17
  • SUP 1: $394.70 - High Nov 14 and a recent breakout point
  • 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 following last week’s gains, which also highlight an acceleration of the current bull cycle. Price has cleared $394.70, the Nov 14 high. This strengthens bullish conditions and confirms a resumption of the broader uptrend. Price has also traded through the $400.00 mark and the focus is on $426.69 - the 1.618 projection of the Jul - Aug - Sep price swing. Key support lies at $370.85, the Jan 4 low.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.