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Friday, September 30, 2022

LME copper could fall into $9,043-$9,163 range this week

SINGAPORE: LME copper could fall into a range of $9,043 to $9,163 a tonne this week, as its bounce from the May 12 low of $8,938 may have completed.

The completion was suggested by the deep drop from the June 6 high of $9,805.50 and the break below a rising trendline.

The drop could be driven by a wave (e), which is capable of travelling to $8,922.

Copper drops as partial lockdowns return in China

A stabilization of the price around $9,313 might be followed by a pullback towards the trendline.

LME copper could fall into ,043-,163 range this week

Source: Brecorder

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