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(Z1) Continue TO Climb

COPPER TECHS
  • RES 4: $470.95 - High Jun 1
  • RES 3: $458.60 - High Jul 27 and key resistance
  • RES 2: $452.80 - High Jul 30
  • RES 1: $447.15 - High Sep 13 and bull trigger
  • PRICE: $440.60 @ 13:22 BST Oct 12
  • SUP 1: $427.51 - 50-Day EMA
  • SUP 2: $411.40 - Low Oct 6
  • SUP 3: $405.45/401.60 - Low Sep 30 / Low Sep 21
  • SUP 4: $396.65/94.55 - Low Aug 19 / Low Apr 1

Copper futures continue to push higher. The contract has cleared resistance at $430.68, the top of a bear channel drawn from the May 10 high. The break is a bullish development and signals scope for a climb towards $447.15, Sep 13 high and a key resistance. Firm support has been defined at $411.40, Oct 6 low where a break is required to reinstate a bearish threat.

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