Shanghai copper to fall to 52,830 yuan/T

SINGAPORE: A bullish target at 57,000 yuan per tonne has been aborted for Shanghai copper , as indicated by its wave pattern.

The fall below a support at 54,800 yuan has proved that the rebound from the Dec. 15 low is indeed a wave "2" and the metal is riding on a downward wave "3", progressing towards 52,830 yuan.

The previous target at 57,000 yuan will be restored should the resistance at 55,620 yuan be broken above.

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