Copper's $4,000 Break

by Ashraf Laidi

Mar 23, 2009 12:14

Copper's 44% rally from Decembers 4-year lows is worthy of notice due to i) the break of the January rising channel (ii) its high correlation with the Aussie and iii) the possible implications for a looming industrial order recovery. Having broken above the $4,000 mark on Friday, the new support stands above the top of the previous channel at $3,800s. Fundamentals are stacked in favour of further Aussie gains, eyeing 70.70 cents, especially as markets begin scalding down chances of a 25-bp rate cut from the RBA at the April meeting.

More Hot-Charts

• Pre Fed Technicals

  Mar 18, 2026 14:52 | by Ashraf Laidi
  سأرسل رسالة صوتية و كتابية توضيحية لأعضاء مجموعة الواتساب الخاصة حول هذه المخططات - Will send detailed note on latest parameters to our WhatsApp Bdcst Group...

• GoldBugs & Levels

  Mar 3, 2026 16:14 | by Ashraf Laidi
  سأرسل رسالة صوتية و كتابية توضيحية لأعضاء مجموعة الواتساب الخاصة حول هذه المخططات - Will send detailed note on latest parameters to our WhatsApp Bdcst Group - -...

• Weekly & Monthly

  Feb 27, 2026 13:54 | by Ashraf Laidi
  سأرسل رسالة صوتية و كتابية توضيحية لأعضاء مجموعة الواتساب الخاصة حول هذه المخططات - Will send detailed note on latest parameters to our WhatsApp Bdcst Group...