Free Trial

(U1) In A Range

COPPER TECHS
  • RES 4: $488.40 - High May 10 and the bull trigger
  • RES 3: $471.10/78.55 - High Jun 1 / High May 18
  • RES 2: $460.10 - High Jun 11
  • RES 1: $440.25/45 - High Jul 6 / High Jun 16 and the bull trigger
  • PRICE: $427.95 @ 13:12 BST Jul 13
  • SUP 1: $409.75/40 - 76.4% of the Mar 4 - May 10 rally / Low Jun 21
  • SUP 2: $406.14 - Major trendline drawn from Mar 19, 2020 low (cont)
  • SUP 3: $400.00 - Low Apr 12
  • SUP 4: $394.90 - Low Mar 25 and a key support

Copper futures are softer but remain in a range. The contract on Jul 6 breached resistance at $433.55, Jun 23 high and tested both the 20- and 50-day EMAs. An extension higher would open the $460.10 level. Jun 11 high. On the downside, a breach of support at $420.30, Jun 29 low would instead signal the end of the recent attempted recovery and expose the key support and bear trigger at $409.40, Jun 21 low.

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.