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.
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Source: Brecorder
