Copper (LME) is trying to reach its December high at 8028.00 as the metal remains bullish while above 7673.00/7635.00, Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, reports. Key quotes “The contract remains bid while it continues to trade above the December 8 and 23 lows at 7673.00/7635.00 on a daily chart closing basis.” “Above the 8028.00 high sits the April 2010 high at 8043.75 and further up the September 2012 and February 2013 peaks at 8346.00/8422.00.” “Were support at 7635.00 to give way, however, an interim top would have been formed with the October-to-January support line at 7384.83 and also the 55-day moving average at 7328.50 being targeted in such a scenario.” “The longer-term trend should remain bullish while the contract stays above the 6269.00/6226.00 August and October lows.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY struggles near multi-month lows, just below 103.00 mark FX Street 11 months Copper (LME) is trying to reach its December high at 8028.00 as the metal remains bullish while above 7673.00/7635.00, Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, reports. Key quotes “The contract remains bid while it continues to trade above the December 8 and 23 lows at 7673.00/7635.00 on a daily chart closing basis.” “Above the 8028.00 high sits the April 2010 high at 8043.75 and further up the September 2012 and February 2013 peaks at 8346.00/8422.00.” “Were support at 7635.00 to give way, however, an interim top would have been formed with the October-to-January support line at 7384.83 and… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
