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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI UST Issuance Deep Dive: Dec 2024
MNI US Employment Insight: Soft Enough To Keep Fed Cutting
MNI ASIA MARKETS ANALYSIS: Jobs Data Green Lights Rate Cuts
(N3) Downtrend Intact
- RES 4: $435.15 - High Jan 18 and the bull trigger
- RES 3: $418.65/21.05 - High Apr 14 / Feb 21 high and key resistance
- RES 2: $400.50 - High May 1
- RES 1: $384.77 - 20-day EMA
- PRICE: $371.60 @ 13:04 BST May 18
- SUP 1: $365.25 - Low May 17
- SUP 2: $363.70 - Low Nov 30 2022
- SUP 3: $355.00 - Low Nov 28 2022
- SUP 4: $350.54 - 76.4% of the Sep 28 ‘22 - Jan 18 bull leg
Copper futures remain in a downtrend and the contract is trading closer to its recent lows. The break on May 11 of key support at $382.90, the Mar 16 low, reinforced bearish conditions and confirmed a resumption of the bear cycle that started on Jan 18. The 370.00 handle has been cleared and this opens 363.70, the Nov 30 2022 low. On the upside, initial firm resistance is seen at 384.77, the 20-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.