Markets
LME copper to fall more to $8,837/T
SINGAPORE : LME copper is expected to fall more to $8,837 per tonne, as a downward wave "3" is progressing. The wave "3
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SINGAPORE: LME copper is expected to fall more to $8,837 per tonne, as a downward wave "3" is progressing. The wave "3" would be able to travel to $8,665, the 161.8 percent Fibonacci projection level, but before that, a realistic target will be $8,837, the 100 percent level.
The metal has broken below an ascending trendline, confirming the continuation of a medium-term downtrend.
A rise above $9,100 will open the way to $9,232.
No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.
Copyright Reuters, 2011
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