Free Trial

(N1) Fresh Trend High

COPPER TECHS
  • RES 4: $464.95 - High Feb 2011 (cont) and a major resistance
  • RES 3: $454.00 - High Aug 2011 (cont)
  • RES 2: $451.35 - 0.764 proj of Jan 28 - Feb 25 - Mar 4 price swing
  • RES 1: $443.25 - Intraday high
  • PRICE: $441.10 @ 13:30 BST Apr 26
  • SUP 1: $416.21 - 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. The contract has traded higher today and registered a fresh trend high print of $443.25. This is above the Feb 25 high of $437.00 and confirms a resumption of the underlying uptrend. The move paves the way for a climb towards 454.00 next, Aug 2011 high (cont). Trend indicators continue to point north, reinforcing conditions and underlying sentiment. Initial firm support is seen at $416.21, the 20-day EMA.

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.