SINGAPORE: LME copper may test a support at $9,056 a tonne, a break below which could cause a fall to $8,851.
The metal is riding on a wave C from $9,924. This wave was disrupted by a support at $8,851, its 61.8% projection level. Three small waves make up the wave C.
The third wave, the wave c is unfolding. It is expected to travel below the bottom of the wave a at $8,740.
Resistance is at $9,261, a break above which could lead to a gain to $9,514.
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