Free Trial

(H4) Resistance Remains Exposed

COPPER TECHS
  • RES 4: $414.90 - High Apr 14
  • RES 3: $404.45 - High Aug 1 and a key resistance
  • RES 2: $392.65 - High Sep 1
  • RES 1: $387.10 - High Sep 15
  • PRICE: $384.30 @ 13:52 GMT Nov 30
  • SUP 1: $373.92 - 50-day EMA
  • SUP 2: $362.60/355.75 - Low Nov 13 / Low Oct 23 and bear trigger
  • SUP 3: $348.70 - 2.00 proj of the Sep 1 - 8 - 15 price swing
  • SUP 4: $344.17 - 2.236 proj of the Sep 1 - 8 - 15 price swing

A bull cycle in Copper futures remains intact and the contract is holding on to its recent highs. The latest appreciation signals scope for an extension and sights are on resistance at $387.10, the Sep 15 high, where a break would open $392.65, the Sep 1 high. On the downside, initial support is seen at $373.92, the 50-day EMA, while key support has been defined at $362.60, the Nov 13 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.