Technical Analysis - Copper futures aluminum material will test the upper resistance level Hamburg on September 20 news, traders and analysts said that LME copper futures on both sides may try resistance on Monday, continuing the strong momentum last week. Shanghai copper rose all morning on Monday morning. The European market was also better than the closing level on Friday, but there was no industry buying interest in the market. A trader said, “The overall outlook looks good. Aluminum futures may break above $1,720 a tonne today, and if it exceeds this level, aluminum futures may rise further. Copper will face strong resistance at $2,855-2,860.†A trader said, “The decline in the late last week was due to profit taking, and we believe that positive sentiment will be maintained last Friday.†At 14:50 Beijing time, LME three-month copper reported $2,829 per ton. This was higher than the $2,810 closing price of the composite transaction last Friday. Three-month aluminum is quoted at US$1,711/14 per tonne, which is higher than the 1,710 closing price of last Friday. Aluminum will continue to be supported by supply doubts. The world’s second-largest aluminum producer, China Aluminum Industry Co., said on Monday that it raised its alumina price by 4.8% to RMB 3,930 per ton, after Hurricane Ivan caused Jamaica’s shipment of alumina to China to be suspended. The world’s sixth-largest copper producer, Poland’s KGHM, anticipates that fires at its smelters will not affect the production of copper. The smelter has been closed for maintenance. Before the US Fed interest rate meeting was held this week, the US dollar was stronger against the euro. Copper copper, the broker of Triland Metals, pointed out that copper should be neutral in the short-term, with a range of US$2,790/2,840 per ton. The weekly chart is also neutral. Aluminium analyst Bhar of Standard Bank of London said: "Technically, the upper resistance is still intact. If you close above 1,720, it will be a signal to test the level of resistance at $1,740." The sex range is located at 1,690/1,720. Three-month composite trading closing support resistance 14th RSI 10th MA 30th MA period copper 2,810 2,790 2,860 66 2,781 2,766 aluminum 1,710 1,690 1,720 61 1,696 1,699 (Mandarin Finance compiled)