FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

(N1) Approaching Key Resistance

COPPER TECHS
  • RES 4: $464.95 - High Feb 2011 (cont) and a major resistance
  • RES 3: $454.00 - High Aug 2011 (cont)
  • RES 2: $438.67 - 0.618 proj of Jan 28 - Feb 25 - Mar 4 price swing
  • RES 1: $437.00 - High Feb 25 and the bull trigger
  • PRICE: $432.70 @ 13:04 BST Apr 23
  • SUP 1: $414.33 - 20-day EMA
  • SUP 2: $399.50 - Low Apr 12
  • SUP 3: $394.75 - Low Mar 25
  • SUP 4: $385.00 - Low Mar 4 and key support

Copper futures maintain a firmer tone following last week's recovery from $399.50, Mar 12 low and the contract is trading higher again today. Price recently cleared $419.00, Mar 15 high. The break confirmed a move out of the recent range and strengthens a bullish case. This has exposed key resistance at $437.00, Feb 25 high. A break would confirm a resumption of the uptrend. 399.50 is key support. 414.33, the 20-day EMA is first support.

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.