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LME copper may test resistance at $5,754 this week

  • The metal is unlikely to overcome it and rise more. Most likely, a decent correction would start around $5,754.
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By Reuters

SINGAPORE: LME copper may test a resistance at $5,754 per tonne this week, a break above which could open the way towards $6,080.

However, the 61.8pc retracement is generally a very strong barrier.

The metal is unlikely to overcome it and rise more. Most likely, a decent correction would start around $5,754.

Support is at $5,490, a break below which may cause a fall to $5,226.

Copper report is published weekly on Monday.

Copper

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