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

• 

  Before and After the New Tariffs

  Feb 23, 2026 12:49 | by Ashraf Laidi
  The chart on the left is Nasdaq100 CFD (US100) which opened on Sunday night at 11 pm London Time after Trump announcement of 15% tariffs, and the other chart is the Nasdaq cash, ending on Friday...
• 

  Mystery Charts

  Feb 5, 2026 20:48 | 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...
• 

  2hr Gold Chart

  Feb 3, 2026 13:09 | 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...