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(N4) Impulsive Bull Cycle

COPPER TECHS
Metals bulletMetals Technical AnalysisHomepagemarkets-real-timeBulletCommodities
  • RES 4: $524.72 - 3.618 proj of the Mar 1 - 18 - 27 price swing
  • RES 3: $520.65 - 3.50 proj of the Mar 1 - 18 - 27 price swing
  • RES 2: $516.58 - 3.382 proj of the Mar 1 - 18 - 27 price swing
  • RES 1: $512.80 - Intraday high
  • PRICE: $489.80 @ 14:28 BST May 15
  • SUP 1: $456.57/435.72 - 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

Copper futures remain in a clear uptrend despite today’s volatile price action. The recent break to new highs reinforces the bull trend condition and maintains the rising price sequence of higher highs and higher lows. The contract has pierced a key resistance at $503.95, the Mar 2022 high (cont). A resumption of gains would open $516.58, a Fibonacci projection. Initial key support lies at $456.57, the 20-day EMA.

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  • RES 4: $524.72 - 3.618 proj of the Mar 1 - 18 - 27 price swing
  • RES 3: $520.65 - 3.50 proj of the Mar 1 - 18 - 27 price swing
  • RES 2: $516.58 - 3.382 proj of the Mar 1 - 18 - 27 price swing
  • RES 1: $512.80 - Intraday high
  • PRICE: $489.80 @ 14:28 BST May 15
  • SUP 1: $456.57/435.72 - 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

Copper futures remain in a clear uptrend despite today’s volatile price action. The recent break to new highs reinforces the bull trend condition and maintains the rising price sequence of higher highs and higher lows. The contract has pierced a key resistance at $503.95, the Mar 2022 high (cont). A resumption of gains would open $516.58, a Fibonacci projection. Initial key support lies at $456.57, the 20-day EMA.