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USDCAD TECHS

Needle Still Points South

US TSYS

Yields Bounce as Equities Make New Monthly Highs

AUDUSD TECHS

Heading North

EURJPY TECHS

Bull Rally Accelerates

COLOMBIA

Economists Survey Raises 2021 CPI Forecast To 4.9%

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  • RES 4: $478.00 - High May 18
  • RES 3: $470.95 - High Jun 1
  • RES 2: $465.59 - 76.4% retracement of the May - Aug bear leg
  • RES 1: $460.00 - High Jun 11
  • PRICE: $457.65 @ 13:36 BST Oct 14
  • SUP 1: $448.30 - Intraday low
  • SUP 2: $428.65 - Low Oct 12
  • SUP 3: $411.40 - Low Oct 6
  • SUP 4: $405.45/401.60 - Low Sep 30 / Low Sep 21

The Copper rally continues to accelerate and futures have today probed resistance at 458.60, Jul 27 high. A strong bullish condition was confirmed this week following the break of resistance at $430.68, the top of a bear channel drawn from the May 10 high. This suggests the 5-month correction is over and signals a resumption of the broad uptrend. The focus is on $465.59, a Fibonacci retracement. Firm support is seen at $428.65, Oct 12 low.