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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: $458.60 - High Jul 27 and key resistance
- RES 3: $452.80 - High Jul 30.
- RES 2: $444.90 - Bear channel top drawn off the May 10 high
- RES 1: $441.80 - High Aug 30
- PRICE: $428.15 @ 13:15 BST Sep 1
- SUP 1: $423.05 - Low Aug 26
- SUP 2: $412.00 - Low Aug 23
- SUP 3: $396.65/94.55 - Low Aug 19 / Low Apr 1
- SUP 4: $384.13 - Bear channel base drawn off the May 10 high
Copper futures have pulled away from $441.80, Aug 30 high and the price has moved below the 50-day EMA. The pullback is potentially significant as it means a key resistance at $444.90 has not been challenged, the top of a bear channel drawn from the May 5 high. A deeper pullback would expose $423.05, Aug 26 low. A breach of this support would signal scope for a deeper pullback. A channel breakout is required to strengthen a bullish case.
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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