LME composite trading closing support resistance 14th RSI 10th MA 30th MA three-month copper 3590/91 * 3575 * 3670 * 57 * 3592 * 3518 three-month aluminum 1887/89 * 1870 * 1910 * 53 * 1909 * 1871 London August 25 news: Traders pointed out that the London Metal Exchange (LME) copper is expected to trade cautiously on Thursday, the price trend depends on the short-term inventory inventory status. LME copper stocks have increased in recent weeks More than doubled to 62,900 tons, which is a high level in nine months, but the market is still in a tense situation. The spot copper/three-month reverse price spread is still around US$220. One trader said, “Because the current inventory changes daily. There is still uncertainty. Everyone is trying to make a short-term trade before the release of the data. If the stock rises significantly, the copper futures will be sold again." The LME inventory data will be announced at 0800 GMT. Technically speaking, The market turned negative. The previous day, the copper price initially fell below the integer mark of $3,600, and then closed below the 10-day moving average. “Although the market remains neutral, the short-term trend is fragile and it could fall by $3,550,†said LME dealer Triland. Metals pointed out in the daily report. According to the firm, on a fundamental basis, the US announced lower-than-expected durable financial (durable goods) orders data on Wednesday, which also caused negative sentiment. The data suggests that there is uncertainty in economic activity. Greenwich Mean Time 0648, LME for three months Copper futures reported at 3,584/88 US dollars, down 6 US dollars from Wednesday's composite trading session. Aluminum failed to hold the US$1,900 on Wednesday, and is likely to be further pressured. The current resistance is expected to be near its 10-day moving average entry of 1,909/1,910. There may be a sell-off in options. Three-month aluminum reported Wednesday at 1,888/91, also down $6.
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