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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: $438.58/47.15 - Channel top / High Sep 13 and bull trigger
- PRICE: $416.4155 @ 13:53 BST Sep 20
- SUP 1: $413.40 - Intraday low
- SUP 2: $396.65/94.55 - Low Aug 19 / Low Apr 1
- SUP 3: $383.55 - Low Mar 4
- SUP 4: $377.81 Bear channel base drawn from the May 10 high
Copper futures stalled at $447.15, on Sep 13. The subsequent reversal represents an important bearish turn as it occurred just above the top of a bear channel drawn from the May 10 high. Furthermore, a Fibonacci retracement at 443.98 - 76.4% of the Jul 27 to Aug 19 downleg - provided resistance despite being probed. Today, support at $420.60, Sep 8 low has been breached. This opens $396.65, Aug 19 low. $447.15 is key resistance.
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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