MNI BRIEF: Foreign Firms Content In China

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: PBOC Sets Yuan Parity Lower At 7.1270 Fri; -0.95% Y/Y

CHINA PBOC CONDUCTS CNY358.05 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1270 FRI VS 7.1321

1 and 3-Year Consumer Inflation Expectations Remain Unchanged

MNI: ECB 1-YEAR CONSUMER INFLATION EXPECTATIONS 2.8%

Unemployment Rate Steady As Labour Force Expands

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

(Z3) Fades Back Toward Support

COPPER TECHS
  • RES 4: $403.75 - High Aug 1
  • RES 3: $390.85 - High Sep 1
  • RES 2: $385.15 - High Sep 15
  • RES 1: $378.60 - High Sep 29 and key short-term resistance
  • PRICE: $357.90 @ 14:44 BST Oct 13
  • SUP 1: $354.10 - Low Nov 28 2022 (cont)
  • SUP 2: $350.00 - Round number support
  • SUP 3: $345.75 - 2.00 proj of the Sep 1 - 8 - 15 price swing
  • SUP 4: $337.95 - Low Nov 3 2022 (cont)

Copper futures have rebounded after trading lower last week, but faded through to Friday trade. Prices last week breached key support at $358.60, the May 24 low. A clear break of this level would confirm a resumption of the medium-term downtrend that started on Jan 18. This would pave the way for a test of $354.10, the Nov 28 2022 low (cont). Key short-term resistance has been defined at $378.60, the Sep 29 high. A break would signal a possible short-term base.

Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

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.