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(K3) Holding On To Its Recent Highs

COPPER TECHS
  • RES 4: $447.20 - High Jun 6 2022
  • RES 3: $435.90 - Jan 18 high and the bull trigger
  • RES 2: $421.30 - Feb 21 high and a key resistance
  • RES 1: $414.85 - High Mar 24
  • PRICE: $411.15 @ 14:08 BST Mar 30
  • SUP 1: $392.85/382.20 - Low Mar 21 / 16 and the bear trigger
  • SUP 2: $379.62 - 50.0% retracement of the Sep 28 - Jan 18 bull cycle
  • SUP 3: $371.80 - Low Jan 4
  • SUP 4: $366.34 - 61.8% retracement of the Sep 28 - Jan 18 bull cycle

Copper futures are consolidating but maintain a firmer tone and the contract is trading closer to last week’s highs. Price has breached resistance at 407.75, the Mar 13 high and this highlights a stronger reversal that exposes $421.30, the Feb 21 high. On the downside, key support and a bear trigger lies at $382.20, the Mar 16 low. Initial support to watch lies at $392.85, the Mar 21 low.

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  • RES 4: $447.20 - High Jun 6 2022
  • RES 3: $435.90 - Jan 18 high and the bull trigger
  • RES 2: $421.30 - Feb 21 high and a key resistance
  • RES 1: $414.85 - High Mar 24
  • PRICE: $411.15 @ 14:08 BST Mar 30
  • SUP 1: $392.85/382.20 - Low Mar 21 / 16 and the bear trigger
  • SUP 2: $379.62 - 50.0% retracement of the Sep 28 - Jan 18 bull cycle
  • SUP 3: $371.80 - Low Jan 4
  • SUP 4: $366.34 - 61.8% retracement of the Sep 28 - Jan 18 bull cycle

Copper futures are consolidating but maintain a firmer tone and the contract is trading closer to last week’s highs. Price has breached resistance at 407.75, the Mar 13 high and this highlights a stronger reversal that exposes $421.30, the Feb 21 high. On the downside, key support and a bear trigger lies at $382.20, the Mar 16 low. Initial support to watch lies at $392.85, the Mar 21 low.

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