Prospects for LME Copper and Aluminum Futures: Copper is Expected to Re-innovate

Three-month composite trading closing support resistance 14th RSI 10th MA 30th MA copper 3287.00 * 3200 * 3336 * 67 * 3269 * 3149 aluminum 1735.00 * 1690 * 1720 * 50 * 1738 * 1745 London June 16 news : Analysts and traders said on Thursday that the London Metal Exchange (LME) copper is still expected to retest the record high of $3,336 per tonne touched in April. The dollar fell slightly yesterday, boosting copper formation. Greenwich Mean Time At 0703, the three-month copper was at US$3,295/3,300 per ton, which was higher than Wednesday's composite trading closing price of US$3,287. Dealers and analysts said that copper may still hit record highs, but it needs to exceed the US$3,300 level in the past week. Copper has tried to break the standard four times. "This is an uncontrollable market. It is difficult to predict the short-term trend," a trader said. "Although the physical market is gradually slowing ... but the current adequate supply has not yet entered the LME warehouse Once that happens, the copper will collapse, but before that, the copper can easily climb to 3,400." The aluminum material will also recover, after the market tried to hold on to the eight-week low of $1,700 hit earlier this week. Greenwich time 0703 Three-month aluminum was quoted at $1,736/40, slightly higher than the 1,735 late-night composite transaction closing. Three-month composite trading closing support resistance at 14th RSI on the 10th MA on the 30th MA copper at 3287.00 * 3200 * 3336 * 67 * 3269 * 3149 Aluminum 1735.00 * 1690 * 1720 * 50 * 1738 * 1745 London June 16 News: Analysts and traders said on Thursday that the London Metal Exchange (LME) copper is still expected to retest the record touched in April The high of US$3,336 per ton was a slight fall in US dollar yesterday, which boosted copper formation. At 0703 GMT, the three-month copper was at US$3,295/3,300 per ton, which was higher than the closing price of Wednesday's composite trading at US$3,287. Analysts said that copper may still hit new highs, but first it needs to exceed the level of 3,300 US dollars. In the past cycle of copper has tried to break the standard four times. "This is an uncontrollable market. It is difficult to predict the short-term trend," a dealer "Despite the fact that the physical market is gradually slowing down...but currently sufficient supply has not yet entered the LME warehouse. Once that happens, copper will fall, but before that, copper can easily be washed up to 3,400." The material will also rebound, after the market We managed to hold on to the eight-week low of $1,700 hit earlier this week. At 0703 GMT, three-month aluminum was quoted at $1,736/40, which was slightly higher than the 1,735 closing of Wednesday's composite trading session.

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