Three-month composite trading closing support resistance at 14th RSI on the 10th MA 30th MA copper 3353/55 * 3250 * 3435 * 64 * 3318 * 3173 aluminum 1779/80 * 1690 * 1800 * 54 * 1746 * 1851 London 6 On the 23rd of January, the London Metal Exchange (LME) copper suffered short-term pressure at the beginning of Thursday. The earlier Asian market’s fall from a record high suggests that copper is expected to test the US$3,300 level and even fall. It has climbed to a record high of 3,435 since Monday. After the dollar, the market became increasingly uneasy and volatile, and many investors feared that there would be a deeper return. Meanwhile, despite the inventory further falling to a 31-year low, the spot/three-month reverse price gap has reached a nine-month high since Monday. The 280/290 US dollar fell sharply, currently at 219/229 US dollars. At 0340 GMT, the three-month copper was at US$3,305/10 per ton, down by US$47 from the late-night composite trading closing level on Wednesday. Dragged down, the level of nearly 1,800 US dollars fell sharply. The next target is expected to be around 1,745/50, which is the 10-day moving average. Three-month aluminum was quoted at $1,767/71, down $12.50 from the late-night closing price of the composite transaction on Wednesday. Three months Closed trading support resistance at 14th RSI on the 10th MA 30th MA copper 3353/55 * 3250 * 3435 * 64 * 3318 * 3173 aluminum 1779/80 * 1690 * 1800 * 54 * 1746 * 1851 London June 23 News: Copper futures on the London Metal Exchange (LME) were under short-term pressure at the beginning of Thursday. Earlier retreat from the record high in the Asian market suggests that copper is expected to test the US$3,300 level and even fall. After climbing to a record high of US$3,435 from Monday, The market became increasingly uncomfortable and fluctuating, and many investors feared that there would be a deeper return. Meanwhile, despite the inventory further falling to a 31-year low, the spot/three-month inverse price difference reached a nine-month high of 280/290 hit on Monday. The dollar fell sharply, currently at $219/229. For the 0340 GMT, the three-month copper was at $3,305/10 per ton, down $47 from the late-night closing price of synthetic transactions on Wednesday. Aluminum was dragged down by the fall in copper prices. The level of nearly 1,800 US dollars fell sharply. The next target is expected to be around 1,745/50, which is the 10-day moving average. The three-month aluminum was quoted at $1,767/71, down $12.50 from the closing price of Wednesday's composite transaction.
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