CANADA MAY RETAILS -0.8% VS FORECAST -0.6%, PRIOR +0.6%

MNI: Canada June Retails Fall And May Biggest Drop In A Year

MNI China Daily Summary: Friday, July 19

MNI BRIEF: China To Boost Consumer Spending, New Industries

MNI BRIEF: China Enhances Fiscal Response To Boost Economy

MNI BRIEF: China To Promote Migrates' Rights, Reform Hukou System

MNI: BAKER HUGHES US RIG COUNT 586; OIL RIGS 477; GAS RIGS 103

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

(N4) Bull Cycle Remains Intact

COPPER TECHS
Metals bulletMetals Technical AnalysisHomepagemarkets-real-timeBulletCommodities
  • RES 4: $490.22 - 2.618 proj of the Mar 1 - 18 - 27 price swing
  • RES 3: $486.00 - High Apr 5 ‘22 (cont)
  • RES 2: $477.04 - 2.236 proj of the Mar 1 - 18 - 27 price swing
  • RES 1: $469.45 - Intraday high
  • PRICE: $459.30 @ 13:32 BST Apr 30
  • SUP 1: $439.67/420.54 - 20- and 50-day EMA values
  • SUP 2: $399.90 - Low Mar 27
  • SUP 3: $383.95 - Low Mar 1
  • SUP 4: $370.35 - Low Feb 9

A bullish theme in Copper futures remains intact and the contract has traded to a fresh cycle high this week. The move higher last week highlights a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows. Scope is seen for $477.04 a Fibonacci projection. Key support is seen at $420.54, the 50-day EMA. A clear break of the average would highlight a potential reversal.

149 words

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.
  • RES 4: $490.22 - 2.618 proj of the Mar 1 - 18 - 27 price swing
  • RES 3: $486.00 - High Apr 5 ‘22 (cont)
  • RES 2: $477.04 - 2.236 proj of the Mar 1 - 18 - 27 price swing
  • RES 1: $469.45 - Intraday high
  • PRICE: $459.30 @ 13:32 BST Apr 30
  • SUP 1: $439.67/420.54 - 20- and 50-day EMA values
  • SUP 2: $399.90 - Low Mar 27
  • SUP 3: $383.95 - Low Mar 1
  • SUP 4: $370.35 - Low Feb 9

A bullish theme in Copper futures remains intact and the contract has traded to a fresh cycle high this week. The move higher last week highlights a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows. Scope is seen for $477.04 a Fibonacci projection. Key support is seen at $420.54, the 50-day EMA. A clear break of the average would highlight a potential reversal.