LME Comprehensive Trading Close Support Position Resistance 14th RSI 10th MA 30th MA Three-month copper 4,128 * 4000 * 4150 * 75 * 4009 * 3937 Three-month aluminum 2,051 * 2000 * 2100 * 72 * 2026 * 1973 LONDON, November 15: Copper prices on the London Metal Exchange (LME) fell at the beginning of the second Tuesday. The market speculated on whether there was a large short position in the China National Reserve Bank (SRB). This made the market prospects unclear. Richardson, chief metal analyst at Deutsche Bank, said: "I think the market is very sensitive now, not only because of the current price, but also because of speculation about China's SRB." Although prices are still rising, a Chinese SRB trader may privately hold a large short position in the LME. Traders are concerned about this. Traders expect that the total amount of short positions may be between 150,000 tons and 200,000 tons, which is twice as much as exchange stocks. The National Reserve Bureau plans to auction 20,000 tons of copper on Wednesday. At 0811 GMT, three-month copper prices fell to US$4,105/09/ton, and on Monday, they closed at US$4,128/ton in the London market. Earlier Monday, copper touched 4,132 US dollars / ton. Three-month aluminum fell to 2,040 US dollars / ton - 2,045 US dollars / ton, the previous day to close at 2,051 US dollars.
