{"id":53488,"date":"2007-09-27T14:41:09","date_gmt":"2007-09-27T04:41:09","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2007\/09\/27\/copper-approaching-significant-resistance\/"},"modified":"2007-09-27T14:41:09","modified_gmt":"2007-09-27T04:41:09","slug":"copper-approaching-significant-resistance","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2007\/09\/27\/copper-approaching-significant-resistance\/","title":{"rendered":"Copper Approaching Significant Resistance"},"content":{"rendered":"<p>Copper prices recorded a lower close on Wednesday but according to technical chartists at Barclays Capital the price action wasn&#8217;t enough to signal a turn in what has been a positive short-term trend.<\/p>\n<p>While the group continues to view the metal as in a late-stage advance it remains aware of the fact daily momentum indicators are looking very much overbought. At the same time the chartists point out there is a virtual wall of resistance on the charts at levels between US$8,100-$8,335, which is just above the current market price.<\/p>\n<p>As a result the group continues to look for signs the market is topping out, suggesting a daily close below US$7,820 would confirm such a top and clear the way for a move to the downside to test the open gap at US$7,590-$7,665 and possibly below.<\/p>\n<p>Medium-term the group continues to expect a large triangular correction pattern will unfold prior to a further test of previous highs at around US$8,800.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" height=\"426\" alt=\"\" src=\"http:\/\/www.fnarena.com\/images\/provider\/dynamic\/Pages_from_Barclays_Capital_Technicals.jpg\" width=\"718\" border=\"0\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Copper weakened overnight and Barclays Capital chartists are cautious of a short-term top given the metal is approaching significant technical resistance.<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/53488"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=53488"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/53488\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=53488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=53488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=53488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}