LME Copper (3 Month continuous)
The market turned around yesterday with an Opening Long White Marubozo and followed on today moving above the combination of Medium MA (currently 6904) & recent 50% Fib at 6909. These are now support! We're now seemingly moving back up to the congestion area 7020-7165. Would suggest that we may see this as hard going. However, just in case...closes over 7165 could see a move up to the Upper Channel (currently 7,400).
LME Aluminium(3 Month continuous)
A second close below key Medium MA (currently 2148) and recent 50% Fib at 2143 combo. Superficially Bearish but closer you can see an Indecisive Spinning Top plus we've tested down to the very important 50% Fib of the 2011-2016 move at 2118. This is ahead of further support and may need manoeuvring to breach. Support starts at 2109 dynamic (Lower Tine Jun—Dec 2017 Andrews Pitchfork) but better at 2060 dynamic (Long MA).
To read the entire report. please click on the document below:
"Disclaimer:ADM Investor Services International Limited is authorised and regulated by The Financial Conduct Authority. Member of The London Stock Exchange. Registered office: 4th Floor Millennium Bridge House, 2 Lambeth Hill, London EC4V 3TT. Registered in England No. 2547805 a subsidiary of Archer Daniels Midland Company. Risk Warning: Investments in Equities, CFDs, Futures, Options, Derivatives and Foreign Exchange can fluctuate in value, investors should therefore be aware that they may not realise the initial amount invested, and indeed may incur additional liabilities.
These Investments may entail above average financial risk of loss, and investors should therefore carefully consider whether their financial circumstances and investment experience permit them to invest and, if necessary, seek the advice of an independent Financial Advisor. Some services described are not available to certain customers due to regulatory constraints either in the United Kingdom or elsewhere. © 2014 ADM Investor Services International Limited 2014.