[Goldfisch]

Reuters
TECHNICALS-LME copper and aluminium to test resistance
Friday April 2, 2:35 am ET


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3 MTH KERB CLOSE * SUPPORT * RESIST * RSI14 * MA10 * MA30
COPPER 3015 * 2900 * 3030 * 62 * 2966 * 2934
ALUMINIUM 1745 * 1685 * 1750 * 72 * 1687 * 1688
--------------- VIEWS FROM THE MARKET - APRIL 2 ---------------
HAMBURG, April 2 (Reuters) - Copper and aluminium are likely
to remain strong and test resistance on Friday, analysts said.
Impending economic data, especially U.S. non-farm payrolls,
might slow trade, but investment funds, responsible of much of
Thursday's activity, could return to the market.
"The likely direction appears up. While some of the metals
appear a little overstretched...few will want to be short and
the funds may have more to do," Martin Fewings of Mitsui Bussan
Commodities said in a report.
COPPER - Prices were ready to challenge resistance after
Thursday's close above $3,000 a tonne, analysts said.
"Technically, a good close on the charts has been achieved
and a weekly close...above $3,010 will be the confirmation
needed to sustain the current rally," Robin Bhar of Standard
Bank London said.
He put resistance at $3,020/30 and then $3,055.
Angus MacMillan of Prudential-Bache said copper appeared to
have broken out of its range.
"For the moment however resistance at $3,030/35 needs to be
overcome to signal further advances," MacMillan said, putting
support at $3,000/95.
Roy Carson of brokerage Triland Metals said a break of
$3,025/30 might bring a test of the year's highs.
At 0653 GMT three months LME copper was quoted at $3,030/40,
up from Wednesday's PM kerb close of $3,015.
ALUMINIUM - Prices were seen likely to extend their recent
strong performance.
Carson said key resistance at $1,750 was in sight and a
break of that might open the way to $1,775.
MacMillan said a close above $1,745 would open up recent
highs around $1,775/80.
The 10- and 30-day moving averages were on the point of
crossing, which might herald further strength, MacMillan said.
"However, the relative strength indicator has crept into
overbought territory, suggesting that we may see some
consolidation in the near term."
Phil Roberts of Barclays Capital Research said in a
quarterly report that aluminium's break above trendline
resistance at $1,681 suggested the correction had ended.
"Following a sustained breach of $1,775 we would target
$2,000," he said.
At 0655 GMT three months aluminium was quoted at $1,745/48,
steady against Thursday's PM kerb close.