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- RES 4: $502.60 - 2.00 proj of Aug 19 - Sep 13 - Sep 21 price swing
- RES 3: $500.00 - Psychological round number
- RES 2: $490.68 - 1.764 proj of Aug 19 - Sep 13 - Sep 21 price swing
- RES 1: $487.05 - High May 10 and the bull trigger
- PRICE: $463.95 @ 13:33 BST Oct 21
- SUP 1: $458.60 - High Jul 27
- 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
Copper is off recent highs. The rally earlier this week traded to a high just short of key resistance at $487.05, the May 10 high and bull trigger. A strong bullish condition was confirmed last week following the break of resistance at $430.68, a bear channel top from the May 10 high. This signals a resumption of the broader uptrend and a break of $487.05 would confirm this and open 490.68, a Fibonacci projection. Initial support is at $458.60, the Jul 27 high.