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Friday, June 2, 2023

LME copper fall into $9,085-$9,245 range this week

SINGAPORE: LME copper may break a support at $9,374 per tonne this week, and fall into a range of $9,085-$9,245.

The support is provided by the 50% projection level of a downward wave (c) from $9,920. This wave may extend into a wide range of $8,828-$9,245.

A break above $9,503 could signal the extension of the bounce from the presumed wave b bottom of $9,315, towards a range of $9,662-$9,920.

Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.

LME copper fall into ,085-,245 range this week

Source: Brecorder

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