Fresh advance on reduced trade war fears pressures key m/t barriers

Copper holds near new two-month high at $2.8565, posted on extension after Monday’s gap-higher opening.
The metal benefited from news that provided relief from fears of escalation of trade conflict between the US and China.
Over 600-pips gap higher and subsequent extension higher probed again through strong resistance at $2.8425 (Fibo 38.2% of $3.3140/$2.5510), which was repeatedly cracked since late July, but without clear break higher.
Eventual break here would expose another pivotal barriers at $2.8650/$2.8700 zone, which would generate another strong bullish signal for further retracement of $3.3140/$2.5510 on break.
Bullish daily weekly techs support the advance and add to improved sentiment.

Res: 2.8565; 2.8645; 2.8695; 2.8780
Sup: 2.8260; 2.8115; 2.7995; 2.7768