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Cash Closed On Friday

AUSSIE 3-YEAR TECHS

(Z2) Firmer into the Close

AUSSIE BONDS

Firmer & Steeper After U.S. CPI

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(Z2) Bearish Theme

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: $356.43/378.35 - 50-day EMA / High Aug 26 and bull trigger
  • PRICE: $328.75 @ 13:13 BST Sep 28
  • SUP 1: $324.30 - Intraday low
  • 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 soft and continue to trend lower. Key support at $336.10, the Sep 6 low, has recently been breached. The break strengthens a bearish case and this has exposed $313.55, the Jul 15 low. On the upside, key short-term resistance to watch is $378.35, the Aug 26 high. A break of this level would cancel a bearish theme and also highlight an important short-term bullish break. This would open $405.70, the May 12 low.

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  • RES 4: $447.45 - High Jun 7
  • RES 3: $424.50 - High Jun 16
  • RES 2: $405.70 - Low May 12
  • RES 1: $356.43/378.35 - 50-day EMA / High Aug 26 and bull trigger
  • PRICE: $328.75 @ 13:13 BST Sep 28
  • SUP 1: $324.30 - Intraday low
  • 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 soft and continue to trend lower. Key support at $336.10, the Sep 6 low, has recently been breached. The break strengthens a bearish case and this has exposed $313.55, the Jul 15 low. On the upside, key short-term resistance to watch is $378.35, the Aug 26 high. A break of this level would cancel a bearish theme and also highlight an important short-term bullish break. This would open $405.70, the May 12 low.