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(N4) Fresh Cycle High

COPPER TECHS
Metals bulletMetals Technical AnalysisHomepagemarkets-real-timeBulletCommodities
  • RES 4: $486.00 - High Apr 5 ‘22 (cont)
  • RES 3: $477.04 - 2.236 proj of the Mar 1 - 18 - 27 price swing
  • RES 2: $468.90 - 2.00 proj of the Mar 1 - 18 - 27 price swing
  • RES 1: $461.45 - Intraday high
  • PRICE: $458.55 @ 13:18 BST Apr 26
  • SUP 1: $434.55/417.03 - 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 today. The move higher this week highlights a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows. Scope is seen for $468.90, a Fibonacci projection. Key support is seen at $417.03, the 50-day EMA. A clear break of the average would highlight a potential reversal.

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  • RES 4: $486.00 - High Apr 5 ‘22 (cont)
  • RES 3: $477.04 - 2.236 proj of the Mar 1 - 18 - 27 price swing
  • RES 2: $468.90 - 2.00 proj of the Mar 1 - 18 - 27 price swing
  • RES 1: $461.45 - Intraday high
  • PRICE: $458.55 @ 13:18 BST Apr 26
  • SUP 1: $434.55/417.03 - 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 today. The move higher this week highlights a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows. Scope is seen for $468.90, a Fibonacci projection. Key support is seen at $417.03, the 50-day EMA. A clear break of the average would highlight a potential reversal.