EM LATAM CREDIT: Panama: Reopening Copper Mine - Positive

• RES 4: 6523.63 1.764 proj of the May 23 - Jun 11 - 23 price swing 
• RES 3: 6500.00 Round number resistance
• RES 2: 6477.31 1.618 proj of the May 23 - Jun 11 - 23 price swing
• RES 1: 6468.50 High Jul 31 and the bull trigger      
• PRICE: 6413.50 @ 14:34 BST Aug 11
• SUP 1: 6239.50 Low Aug 1
• SUP 2: 6238.83 2.0% 10-dma Envelope
• SUP 3: 6216.34 50-day EMA
• SUP 4: 6213.75 50% retracement of Jun - Aug Upleg

Prices recovered well Friday, meaning the bulk of the bounce off the NFP low is holding firm, keeping the underlying uptrend intact for now. The index holds above support at the 20-day EMA, at 6343.83. Through recent phases of weakness, the 50-day EMA at 6224.07, has held as support - and will be important on any intraday declines. Clearance of this average is required to signal a stronger reversal. The primary trend remains up, leaving key short-term resistance and the bull trigger at 6468.50, the Jul 31 high.

Most recent block trade lodged at 08:45:31 NY/13:45:31 London:

• SFRU5 8K lots blocked at 95.915, looks like a buyer.
• DV01 $200K.

President Donald Trump is scheduled to hold a press conference at 10:00 ET 15:00 BST to announce a new public safety plan for Washington, D.C. The announcement, which, according to the New York Times, is expected to include activating National Guard troops, comes after Trump threatened to take the city under federal control. LIVESTREAM 

• Trump said on Truth Social this morning: "D.C. will be LIBERATED today! Crime, Savagery, Filth, and Scum will DISAPPEAR. ... I quickly fixed the Border (ZERO ILLEGALS in last 3 months!), D.C. is next!!!"
• The move mirrors Trump's recent deployment of National Guard troops to Los Angeles to quell unrest related to Trump's immigration policies. It is part of a broader strategy targeting primarily Democrat-run cities for their record on crime. Trump said on the campaign trail:“[I]n cities where there has been a complete breakdown of law and order... I will not hesitate to send in federal assets including the National Guard until safety is restored.”
• Politico notes that Trump has a range of options at his disposal, ranging from mobilising federal law enforcement agencies - which he is already doing - through to the unlikely option of asking Congress to modify or repeal the Home Rule Act."
• Politico adds: "Based on our conversations with people in Trump world, at this moment, this entire ordeal seems less like the machinations of a major power struggle than something Trump sees as a quick, visually friendly PR win."