MNI INTERVIEW2: Riksbank Sales Boosting Liquidity - Debt Head

MNI China Daily Summary: Thursday, Dec 5

MNI: UK NOVEMBER CONSTRUCTION PMI 55.2 (FCST: 53.5); OCT 54.3

MNI BRIEF: China Construction Output Slows In November

MNI: PBOC Net Drains CNY153 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Lower At 7.1879 Thurs; -1.82% Y/Y

MNI: EUROZONE OCT RETAIL SALES -0.5% M/M, +1.9% Y/Y

MNI: EUROZONE NOVEMBER CONSTRUCTION PMI 42.7 OCT 43.0

MNI: FRANCE OCT INDUSTRIAL PRODUCTION -0.1% M/M, -0.6% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

(U2) Trend Outlook Remains Bearish

COPPER TECHS
  • RES 4: $423.75 - High Jun 16
  • RES 3: $394.18 - 50-day EMA
  • RES 2: $385.00 - High Jun 28
  • RES 1: $358.00 - High Jul 7 and a key near-term resistance
  • PRICE: $332.60 @ 13:15 BST Jul 18
  • SUP 1: $313.15 - Low Jul 15
  • SUP 2: $300.00 - Psychological round number
  • SUP 3: $294.85 - 2.00 proj of the Apr 18 - May 12 - Jun 3 price swing
  • SUP 4: $275.33 - 2.236 proj of Apr 18 - May 12 - Jun 3 price swing
Copper futures traded lower last week reinforcing bearish conditions. This resulted in the break of $327.30, Jul 6 low, confirming a resumption of the downtrend and extending the bearish price sequence of lower lows and lower highs. Price has tested $314.41, 61.8% of the Mar ‘20 - Mar ‘22 rally (cont). A clear break would open $300.00. Firm resistance is seen at $358.00, Jul 7 high. A breach would signal potential for a stronger corrective bounce.
Energy BulletsCommodities
Energy BulletsCommodities

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.