Copper Technical Analysis
Copper continues to show a strong bullish structure, trading around $6.72 after steadily recovering from its recent low near $6.36.
The MA5, MA10 and MA20 remain aligned to the upside, with price holding comfortably above all three averages. The MA20 is also trending higher, reinforcing the current bullish momentum. Despite a modest pullback from the recent high, buyers continue to maintain control.
The first major resistance is around $6.73, followed by the psychological $6.75 level. A decisive break above $6.73 could extend the rally toward $6.80.
On the downside, $6.66 is the first support, followed by $6.62. A deeper correction could bring $6.53 into focus.
The overall bias remains bullish above $6.62, with the current pullback appearing more consistent with consolidation than a confirmed trend reversal.
Copper
| Resistance | $6.75 | $6.87 | $6.92 |
| Support | $6.67 | $6.59 | $6.45 |
Gold Technical Analysis
Gold remains in a broadly bullish structure, although short-term momentum has weakened after the market failed to sustain its move above the $4,696 high. Gold is currently trading around $4,639, consolidating near the $4,650 region after several attempts to regain upward momentum.
The MA5, MA10 and MA20 are tightly clustered, reflecting the current period of consolidation and a lack of clear short-term directional momentum.
Immediate resistance is located around $4,670–$4,697. A sustained break above $4,697 could strengthen the bullish outlook and open the way toward $4,715.
On the downside, $4,630 is the first support, followed by $4,599 and the stronger $4,550 area.
The short-term bias remains neutral to bullish, but gold needs to reclaim $4,670 and subsequently break above $4,697 to regain stronger upward momentum. A sustained move below $4,599 could signal a deeper correction.
Gold
| Resistance | $4,675 | $4,700 | $4,725 |
| Support | $4,606 | $4,576 | $4,524 |
Nasdaq 100 Technical Analysis
The Nasdaq 100 is showing a sideways-to-bearish structure after failing to sustain its recovery from the recent low of 28,891. The index is currently trading around 29,184, with the latest rebound struggling near the 29,180–29,250 area.
The index remains below its recent high of 29,474, keeping the short-term outlook cautious.
The moving averages present a mixed picture. While price has moved back above the shorter-term averages, it remains below the MA20, suggesting that the broader short-term momentum has yet to turn decisively bullish.
The first key resistance zone is around 29,212–29,250, followed by 29,355 and the recent high at 29,474.
On the downside, 29,100–29,050 represents the first important support area. A break below 28,891 would reinforce the bearish structure and could expose the index to further downside.
Overall, the bias remains neutral to bearish below 29,350. A sustained break above this level would improve the technical outlook and suggest that buyers are regaining control.
Nasdaq 100
| Resistance | 29,333 | 29,452 | 29,598 |
| Support | 29,031 | 28,862 | 28,254 |
Market Outlook
Copper continues to lead with a strong bullish structure as it approaches its previous record high, while gold remains in a broader uptrend despite short-term consolidation. The Nasdaq 100 presents a more cautious setup, with sellers retaining an advantage below 29,350.
Traders may watch the key support and resistance levels across these markets for potential changes in momentum and trend direction.
