LME copper still eyes $7,010/T

SINGAPORE: A bearish target at $7,010 per tonne is intact for LME copper as a downward wave "c" has not completed.

The wave "c" is expected to travel the same length as the wave "a" to arrive at the 100 percent Fibonacci projection level, based on the length of the wave "a" and the peak of the wave "b" at $7,933.

Resistance is at $7,343, a break above which will trigger a further gain to $7,460, as pointed by the upper channel line of a falling channel.

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