MNI BRIEF: Norges Bank Head Says Can Soon Ease Policy A Little

MNI: Rise In US Consumer Delinquency Slowed In Q4 - NY Fed

MNI BRIEF: Eurozone Set For Moderate Downward Growth Revision

MNI China Daily Summary: Thursday, February 13

MNI BRIEF: PBOC Pledges To Keep Liquidity Ample

MNI BRIEF: PBOC To Increase Forex Market Resilience

US EIA:NAT GAS STORAGE -100 BCF TO 2,297 BCF FEB 07 WK

MNI: US JOBLESS CLAIMS -7K TO 213K IN FEB 08 WK

MNI: US JAN FINAL DEMAND PPI +0.4%, EX FOOD, ENERGY +0.3%

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

COPPER TECHS: (H5) Bull Rally Cements Itself

COPPER TECHS
Metals Technical AnalysisCommodities TechBulletCommodities
  • RES 4: $489.60 - High May 28 
  • RES 3: $480.00 - High Sep 30 and a bull trigger
  • RES 2: $471.50 - Intraday high         
  • RES 1: $469.34/50 - 6.0% 10-dma envelope / High Oct 2 ‘24
  • PRICE: $454.95 @ 14:18 GMT Feb 11
  • SUP 1: $447.00 - High Jan 17       
  • SUP 2: $434.19 - 20-day EMA
  • SUP 3: $418.35 - Low Feb 3 and key support      
  • SUP 4: $400.50 - Low Jan 2 and a bear trigger     

Copper futures remain in a bull cycle and this week’s rally has accelerated beyond last week’s gains, reinforcing current bullish conditions. The contract has cleared 452.85, the Nov 5 high and a key hurdle. Price is also through 461.24, 76.4% of the Sep 30 ‘24 - Jan 2 bear leg. Sights are on 480.00, the Sep 30 high and bull trigger. Key support is at $418.35, the Feb 3 low.                        

143 words

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.
  • RES 4: $489.60 - High May 28 
  • RES 3: $480.00 - High Sep 30 and a bull trigger
  • RES 2: $471.50 - Intraday high         
  • RES 1: $469.34/50 - 6.0% 10-dma envelope / High Oct 2 ‘24
  • PRICE: $454.95 @ 14:18 GMT Feb 11
  • SUP 1: $447.00 - High Jan 17       
  • SUP 2: $434.19 - 20-day EMA
  • SUP 3: $418.35 - Low Feb 3 and key support      
  • SUP 4: $400.50 - Low Jan 2 and a bear trigger     

Copper futures remain in a bull cycle and this week’s rally has accelerated beyond last week’s gains, reinforcing current bullish conditions. The contract has cleared 452.85, the Nov 5 high and a key hurdle. Price is also through 461.24, 76.4% of the Sep 30 ‘24 - Jan 2 bear leg. Sights are on 480.00, the Sep 30 high and bull trigger. Key support is at $418.35, the Feb 3 low.