SINGAPORE: LME copper may fall into $8,435-$8,661 range this week, as it has cleared a support at $8,887 per tonne.
The correction from the Feb. 25 high of $9,617 consists of three waves. The current wave c may travel to $8,435, the 61.8% retracement of the uptrend from $7,705.
A break above $8,887, now a resistance, could lead to a gain to $9,000, a higher resistance established by the upper trendline of a wedge.
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