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PBOC Injects Net CNY312 Bln Fri; Rates Unchanged

CHINA PBOC INJECTS CNY664 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1151 FRI VS 7.1212

Japan Oct CPI +2.9% Y/Y; Energy Price Narrows

MNI: UK NOV GFK CONSUMER CONFIDENCE INDEX -24

UK GfK Consumer Confidence rises to levels seen in June:

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

MNI BRIEF:Macklem-Fiscal Policy Turning Unhelpful On CPI Fight

MNI BRIEF: Stabilizing Prices Helps BOC Turn Neutral-Freeland

(Z3) Gains Considered Corrective

COPPER TECHS
Metals Technical AnalysisMetals bulletHomepagemarkets-real-timeCommoditiesBullet
  • RES 4: $403.75 - High Aug 1
  • RES 3: $390.85 - High Sep 1
  • RES 2: $385.15 - High Sep 15
  • RES 1: $375.38 - 20-day EMA
  • PRICE: $368.70 @ 13:34 BST Sep 28
  • SUP 1: $358.60 - Low May 24 and a bear trigger
  • SUP 2: $354.10 - Low Nov 28 2022 (cont)
  • SUP 3: $350.00 - Round number support
  • SUP 4: $345.75 - 2.00 proj of the Sep 1 - 8 - 15 price swing

Copper futures last week breached 367.00, the Aug 17 low. The move lower this week reinforces a bearish theme and signals potential for weakness towards 358.60, the May 24 low. Moving average studies are in a bear-mode position highlighting a downtrend. On the upside, key short-term resistance has been defined at $385.15, the Sep 15 high. Short-term gains are considered corrective.

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  • RES 4: $403.75 - High Aug 1
  • RES 3: $390.85 - High Sep 1
  • RES 2: $385.15 - High Sep 15
  • RES 1: $375.38 - 20-day EMA
  • PRICE: $368.70 @ 13:34 BST Sep 28
  • SUP 1: $358.60 - Low May 24 and a bear trigger
  • SUP 2: $354.10 - Low Nov 28 2022 (cont)
  • SUP 3: $350.00 - Round number support
  • SUP 4: $345.75 - 2.00 proj of the Sep 1 - 8 - 15 price swing

Copper futures last week breached 367.00, the Aug 17 low. The move lower this week reinforces a bearish theme and signals potential for weakness towards 358.60, the May 24 low. Moving average studies are in a bear-mode position highlighting a downtrend. On the upside, key short-term resistance has been defined at $385.15, the Sep 15 high. Short-term gains are considered corrective.