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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.
COPPER TECHS
- RES 4: $505.03 - 1.382 proj of Jan - Feb - Apr price swing
- RES 3: $500.00 - Psychological round number
- RES 2: $492.35 - 1.236 proj of Jan - Feb - Apr price swing
- RES 1: $472.80 - Intraday high
- PRICE: $471.95 12:19 BST May 7
- SUP 1: $450.05 - Low May 6
- SUP 2: $443.50 - Low May 3 and a firm near-term support
- SUP 3: $434.80 - 20-day EMA
- SUP 4: $418.57 - 50-day EMA
Copper futures are on the move once again and have rallied sharply higher today. The recent break of the Feb 25 high of $437.00 confirmed a resumption of the uptrend and the current recovery is accelerating. Note that copper has cleared a major resistance at $464.95, Feb 2011 high. The focus is on $492.32, a Fibonacci projection. On the downside, initial firm support is at $443.50, May 3 low.
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.
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