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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.
COPPER TECHS
- RES 4: $470.95 - High Jun 1
- RES 3: $458.60 - High Jul 27 and key resistance
- RES 2: $441.90 - High Aug 13
- RES 1: $434.58 - 50-day EMA
- PRICE: $417.20 @ 13:04 BST Aug 18
- SUP 1: $416.55 - Low Jul 19
- SUP 2: $411.00 - Low Jun 11 and the key support
- SUP 3: $394.55 - Low Apr 1
- SUP 4: $389.40 - Bear channel base drawn off the May 10 high
Copper futures are lower today and the contract is below $420.00. The move lower has exposed support at $416.55, Jul 19 low and $411.00, Jun 21 low. The latter is key support and the bear trigger. Note too that $422.50 marks a key trendline support parameter drawn off the Mar 19, 2020 low. This has been breached and highlights an important technical break and bearish signal. Key short-term resistance is at $441.90.
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.
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