December Copper closed down 3.20 at 292.40. This was 2.20 up from the low and 3.35 off the high.
Technical Outlook
COMEX COPPER (DEC) 09/10/2009: Momentum studies are trending higher but have entered overbought levels. The market's close above the 9-day moving average suggests the short-term trend remains positive. It is a slightly negative indicator that the close was lower than the pivot swing number. The next upside objective is 299.53. The next area of resistance is around 294.47 and 299.53, while 1st support hits today at 287.23 and below there at 285.04.
Technical Outlook
COMEX COPPER (DEC) 09/10/2009: Momentum studies are trending higher but have entered overbought levels. The market's close above the 9-day moving average suggests the short-term trend remains positive. It is a slightly negative indicator that the close was lower than the pivot swing number. The next upside objective is 299.53. The next area of resistance is around 294.47 and 299.53, while 1st support hits today at 287.23 and below there at 285.04.
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