Here is what our clients got today regarding LME Copper.
Candlestick Chart & Technical Analysis
•Short term Trend: Bullish
•Medium term Trend: Neutral – Bullish
•Yesterday’s candle:
“There is a band of resistance coming into sight in the 13500s, as well as a Fibonacci level before that at 13445…Our Skewbar remains mostly green.“
•Gains were seen to 13480 late yesterday, into this band of resistance we’ve been flagging of late. Overnight we’ve given back all of yesterday’s gains… Grrrrr…
•Fibonacci says: 12780 and 13445 are the next upside targets. – 13445 hit and we’ve seen some selling this morning.
•Moving Averages/Indicators/other: MACDMoving Average Convergence Divergence - a technical analysis... is bullish. RSIRelative Strength Index - The speed and change of price move... More into the 60s.
•Summary/Thoughts: Big sell signal negated. – Which the bulls have cheered.
•Favoured Trade(s) for today: Buy dips/rips.
•Bigger Picture thoughts and targets: 13445-13527 is a big area of resistance.
Market Profile
•Profile setup/levels: Vacuums left above overnight at 13315, 13328, 13390 and 13403.
•20-day CHVNComposite High Volume Node – “Composite” profiles; tho... More: 12250
•Naked VPOCsVolume Point of Control – The price where the most volume ... More below: 12620, 12430, 11983, 11781
•Naked VPOCsVolume Point of Control – The price where the most volume ... More above: 13500, 13600
•SPVsSingle Print Vacuum – Similar to an LVN/CLVN. A price or p... More in play below: 12951, 12930, 12828, 12800, 12744.50, 12092.50, 12083, 11078.50, 11045, 11011, 10736.
•SPVsSingle Print Vacuum – Similar to an LVN/CLVN. A price or p... More in play above: None.
Support & Resistance Levels (Futurestechs’ SkewBar)
Key
Purple = Marabuzo lines
Green = Fibonacci level
Blue = Market Profile level
Orange = Trendlines/Chart Pattern levels
Clive Lambert FSTA – FuturesTechs
A 10-time Technical Analysis award winner, Clive Lambert FSTA has spent over 25 years advising trading desks on the Metals markets. Covering LME Base (Copper, Nickel, Zinc & Aluminium) & Precious Metals (Gold, Silver, Platinum & Palladium), his reports are considered the industry benchmark, blending Market Profile and Candlestick Analysis to provide institutional-grade clarity for professional hedgers and traders.
Disclaimer:
This communication has been prepared solely for information and data purposes and is not intended as an Invitation or Inducement with respect to the purchase or sale of any financial instrument. This communication should not be regarded as a substitute for the exercise by the recipient of its own judgement. Any reliance placed on the communication is at the reader’s risk. Information and opinions have been obtained from sources believed to be reliable but no representation is made to their accuracy.