Free Trial
NZD

Gains As Equity Rally Continues

USDCAD TECHS

Bear Threat Still Present

US TSYS

Rates, Stocks, Metals Stronger, Bitcoin Rout

US TSYS

Late SOFR/Eurodollar/Treasury Options Roundup

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

(Z2) Bearish Outlook

COPPER TECHS
  • RES 4: $447.45 - High Jun 7
  • RES 3: $424.50 - High Jun 16
  • RES 2: $405.70 - Low May 12
  • RES 1: $354.00/378.35 - 50-day EMA / High Aug 26 and bull trigger
  • PRICE: $342.20 @ 13:34 BST Oct 4
  • SUP 1: $324.30 - Low Sep 28
  • SUP 2: $313.55 - Low Jul 15 and the bear trigger
  • SUP 3: $300.00 - Psychological round number
  • SUP 4: $279.40 - 2.00 proj of the Mar 7 - May 12 - Jun 3 price swing

Copper futures remain in a short-term downtrend and recent gains appear to be corrective. A key support at $336.10, the Sep 6 low, has recently been cleared. The break strengthens a bearish case and this has exposed $313.55, the Jul 15 low. Key short-term resistance to watch is unchanged at $378.35, Aug 26 high. A break would cancel a bearish theme and highlight an important short-term bullish break. This would open $405.70, the May 12 low.

156 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • RES 4: $447.45 - High Jun 7
  • RES 3: $424.50 - High Jun 16
  • RES 2: $405.70 - Low May 12
  • RES 1: $354.00/378.35 - 50-day EMA / High Aug 26 and bull trigger
  • PRICE: $342.20 @ 13:34 BST Oct 4
  • SUP 1: $324.30 - Low Sep 28
  • SUP 2: $313.55 - Low Jul 15 and the bear trigger
  • SUP 3: $300.00 - Psychological round number
  • SUP 4: $279.40 - 2.00 proj of the Mar 7 - May 12 - Jun 3 price swing

Copper futures remain in a short-term downtrend and recent gains appear to be corrective. A key support at $336.10, the Sep 6 low, has recently been cleared. The break strengthens a bearish case and this has exposed $313.55, the Jul 15 low. Key short-term resistance to watch is unchanged at $378.35, Aug 26 high. A break would cancel a bearish theme and highlight an important short-term bullish break. This would open $405.70, the May 12 low.