SINGAPORE: LME copper may end the current fall in a support zone of $8,776 to $8,951 per tonne this week, as suggested by its wave pattern and a rising trendline.
This zone falls within the range of a wave (4), which started at Feb. 25 high of $9,617 and ended at the April 1 low of $8,695. The trendline establishes a support around $8,776 as well.
Resistance is at $9,367, a break above could lead to a gain to $9,733.
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