Free Trial
USDCAD TECHS

Remains Vulnerable

AUDUSD TECHS

Trend Needle Points North

US TSYS

Bonds Near Highs, Yield Curves Flatter

EURJPY TECHS

Bearish Outlook

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

(U2) Eyeing Key Support

COPPER TECHS
  • RES 4: $86.25 - High Apr 18
  • RES 3: $466.93 - 76.4% retracement of the Apr 18 - May 12 bear leg
  • RES 2: $462.55 - High Apr 25
  • RES 1: $438.09/458.55 - 50-day EMA / High Jun 3 and key resistance
  • PRICE: $408.60 @ 14:00 BST Jun 17
  • SUP 1: $404.40 - Low May 12 and a key support
  • SUP 2: $401.60 - Low Sep 21 2021 (cont)
  • SUP 3: $396.15 - Low Aug 19 2021 (cont)
  • SUP 4: $395.49 - 1.764 proj of the Mar 7 - 15 - Apr 18 price swing

Copper futures traded lower again yesterday. Price has breached support at $421.20, May 26 low. The extension lower opens key support and the bear trigger at $404.40, the May 12 low. On the upside key short-term resistance has been defined at $458.55, the Jun 3 high. A break of this level would reinstate a recent bullish theme. Initial resistance is at $438.09, the 50-day EMA.

155 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • RES 4: $86.25 - High Apr 18
  • RES 3: $466.93 - 76.4% retracement of the Apr 18 - May 12 bear leg
  • RES 2: $462.55 - High Apr 25
  • RES 1: $438.09/458.55 - 50-day EMA / High Jun 3 and key resistance
  • PRICE: $408.60 @ 14:00 BST Jun 17
  • SUP 1: $404.40 - Low May 12 and a key support
  • SUP 2: $401.60 - Low Sep 21 2021 (cont)
  • SUP 3: $396.15 - Low Aug 19 2021 (cont)
  • SUP 4: $395.49 - 1.764 proj of the Mar 7 - 15 - Apr 18 price swing

Copper futures traded lower again yesterday. Price has breached support at $421.20, May 26 low. The extension lower opens key support and the bear trigger at $404.40, the May 12 low. On the upside key short-term resistance has been defined at $458.55, the Jun 3 high. A break of this level would reinstate a recent bullish theme. Initial resistance is at $438.09, the 50-day EMA.