- Analytics
- News and Tools
- Market News
- Copper to head back up towards the 9617.00 February high - Commerzbank
Copper to head back up towards the 9617.00 February high - Commerzbank
FXStreet reports that Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, notes that copper (LME) is heading up towards the 9617.00 February high above which lies the 9905.00/10190.00-region.
“As long as the 9617.00 high isn’t overcome further sideways trading around the 9000.00-mark should take place.”
“A rise and daily chart close above the 9617.00 February high would make us bullish again and engage the February and August 2011 highs at 9905.00/10190.00.” “Potential support above the 8570.00 March low comes in along the 55-day moving average at 8804.37 and also at the 8695.00 late March low.”
“While the contract stays above the 7705.00/7673.00 late December and January lows we will stay overall bullish.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
