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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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Free Access(N2) Remains Below The 50-Day EMA
- RES 4: $473.55 - High Apr 21
- RES 3: $462.20 - High Apr 25
- RES 2: $443.71 - 50-day EMA
- RES 1: $435.50 - High May 23
- PRICE: $429.20 @ 12:37 BST May 24
- SUP 1: $403.70/401.60 - Low May 12 / Low Sep 21 2021 (cont)
- SUP 2: $396.15 - Low Aug 19 2021 (cont)
- SUP 3: $391.07 - 1.764 proj of the Mar 7 - 15 - Apr 5 price swing
- SUP 4: $378.35 - 2.00 proj of the Mar 7 - 15 - Apr 5 price swing
Copper futures traded yesterday as the contract extends a reversal from the May 12 low of $403.70. Price is slightly weaker today. Short-term gains are still considered corrective and the trend outlook remains bearish. The move lower from $486.15, Apr 5 high, resulted in the break of a number of support levels and moving average studies have turned bearish. The next resistance to watch is at $443.71, the 50-day EMA.
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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.