Free Trial
BONDS

Early Bid Holds

AUSSIE BONDS

ACGB May-32 Auction Digested Smoothly

AUSSIE BONDS

ACGB May-32 Auction Results

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

(Z1) Bearish Risk Still Present

COPPER TECHS
  • RES 4: $487.05 - High May 10 and the bull trigger
  • RES 3: $470.95 - High Jun 1
  • RES 2: $458.60 - High Jul 27 and key resistance
  • RES 1: $441.90 - High Aug 13
  • PRICE: $431.30 @ 12:45 BST Aug 16
  • SUP 1: $423.65 - Low Aug 9
  • SUP 2: $421.24 - Major trendline drawn from Mar 19, 2020 low (cont)
  • SUP 3: $416.55 - Low Jul19
  • SUP 4: $411.00 - Low Jun 11 and the key support

Copper futures are lower today. Recent gains are likely corrective and a bearish short-term risk remains present. Attention is on support at $423.65, Aug 9 low where a break would trigger a deeper pullback towards $416.55, Jul 19 low and $411.00, Jun 21 low. The latter is the key support. Note $421.24 marks a key trendline support parameter drawn off the Mar 19, 2020 low. Key resistance is at $458.60, Jul 27 high.

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.