Explore Special Offers & White Papers from ADMIS

Resistance in Copper


Unfortunately for gold bulls anecdotal demand news from India and other portions of the Middle East remains discouraging, with regional lockdown still dealing a significant blow to retail sales and that action resulting in a deepening of regional gold discount pricing.


As indicated in the gold and silver coverage today we see portions of the precious metals complex as significantly cheaper than others. Platinum is certainly cheaper than palladium given its current price is $1200 or 50% below its all-time high, while palladium is $300 below its all-time high.


From a technical perspective, copper appeared to run into very solid resistance at $3.6180 yesterday. However, given strong Chinese industrial profits yesterday, a larger than expected US stimulus prospect and reports of extremely busy US West Coast ports, we would have expected the copper market to have held all its initial gains yesterday.


Risk Warning: Investments in Equities, Contracts for Difference (CFDs) in any instrument, 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 may incur additional liabilities. These investments may be subject to above average financial risk of loss. Investors should consider their financial circumstances, investment experience and if it is appropriate to invest. If necessary, seek independent financial advice.

ADM Investor Services International Limited, registered in England No. 2547805, is authorised and regulated by the Financial Conduct Authority [FRN 148474] and is a member of the London Stock Exchange. Registered office: 3rd Floor, The Minster Building, 21 Mincing Lane, London EC3R 7AG.                  

A subsidiary of Archer Daniels Midland Company.

© 2021 ADM Investor Services International Limited.

Futures and options trading involve significant risk of loss and may not be suitable for everyone.  Therefore, carefully consider whether such trading is suitable for you in light of your financial condition.  The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM.  The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared.  The information provided is designed to assist in your analysis and evaluation of the futures and options markets.  However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.

Latest News & Market Commentary

Explore Special Offers & White Papers from ADMIS

Get Started