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- RES 4: $464.95 - Weekly High Feb 18, 2011 (cont)
- RES 3: $461.26 - 3% Upper Bollinger Band
- RES 2: $454.00 - Weekly High Aug 5, 2011 (cont)
- RES 1: $437.55 - High Feb 25 and the bull trigger
- PRICE: $416.15 @ 13:17 GMT Mar 2
- SUP 1: $404.15 - Intraday low
- SUP 2: $393.90 - 20-day EMA
- SUP 3: $373.52 - 50-day EMA
- SUP 4: $349.85 - Low Jan 28 and a key trend support
Copper remains in a clear broader uptrend and the pullback from last week's high of 437.55 is considered a correction. It is possible that a deeper pullback may follow given the overbought condition in the trend. If this occurs, it would open the 20-day EMA at 393.90. Key resistance and the bull trigger has been defined $437.55, Feb 25 high where a break would resume the underlying uptrend and open $454.00 the weekly high Aug 5, 2011 (cont).