• Copper rejected at highs, edges lower from session highs at 2.731.
   
• Some intraday weakness seen on daily charts, but weekly charts are bullishly aligned.
   
• China's copper trade data for the month of December showed that overall copper imports rose in December, posting a solid close to a strong year for China’s copper market. 
   
• Bias higher as long as pair closes above trendline at 2.70. We then see scope for test of 2.752 (Nov 28 highs).
   
• On the flipside, close below 2.70 could see test of 5-DMA at 2.656. Break below finds next major support at 2.584 (50-DMA).
   
• Call update: Our previous call (http://www.econotimes.com/FxWirePro-Copper-bounces-off-50-DMA-on-track-to-test-270-good-to-go-long-on-dips-502415) has achieved all targets.
   
• Support levels - 2.687 (78.6% Fib retrace of 2.752 to 2.450 fall), 2.656 (5-DMA), 2.637 (61.8% Fib)
   
• Resistance levels - 2.711 (Jan 16 high), 2.733 (Nov 11 high), 2.752 (Nov 28 high)