MNI BRIEF: Less Than Half Canada Firms See Inflation Obstacle

MNI China Daily Summary: Monday, November 25

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 22

MNI: PBOC Net Injects CNY76.7 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1918 Mon; -1.35% Y/Y

EZ/UK T-Bill Calendar: 2/3-Month ATB Auction on Tuesday

MNI: BELGIUM NOV BNB BUSINESS SURVEY -11.1

EZ/UK Bond Supply Calendar: Gilt Syndi; IT, DE Due on Tuesday

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

(K3) Pullback Considered Corrective

COPPER TECHS
  • RES 4: $447.20 - High Jun 6 2022 (cont)
  • 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: $401.80 @ 13:25 BST Apr 11
  • SUP 1: $392.60/382.20 - Low Apr 5 / Low Mar 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 remain below the late March highs. The recent move lower is considered corrective - for now. Gains between Mar 16 - 24 highlight a bullish theme with moving average studies in a bull-mode position. A resumption of gains would signal scope for a climb towards $421.30, the Feb 21 high. On the downside, key support and the bear trigger to watch lies at $382.20, the Mar 16 low. A break would reinstate a bearish theme.

Energy BulletsCommodities
Energy BulletsCommodities

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.