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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: $452.80 - High Jul 30
- RES 1: $447.15 - High Sep 13 and the bull trigger
- PRICE: $432.00 @ 13:55 BST Sep 14
- SUP 1: $420.60 - Low Sep 8 and key near-term support
- SUP 2: $412.00 - Low Aug 23
- SUP 3: $396.65/94.55 - Low Aug 19 / Low Apr 1
- SUP 4: $379.92 - Bear channel base drawn off the May 10 high
Copper has stalled at yesterday's high of $447.15. This is a potentially important reversal as it has occurred just above the top of a bear channel drawn from the May 10 high. Furthermore, a Fibonacci retracement at 443.98, although probed, has essentially held as resistance. The support to watch is $420.60, Sep 8 low. A break would suggest scope for a deeper pullback within the channel. Yesterday's $447.15 high is the bull trigger.
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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