Markets
Shanghai copper to fall to 54,070 yuan/T
SINGAPORE : Shanghai copper will fall to 54,070 yuan per tonne as as it has bounced off the upper trendline of a trian
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SINGAPORE: Shanghai copper will fall to 54,070 yuan per tonne as as it has bounced off the upper trendline of a triangle and is heading toward the lower trendline of the pattern.
The triangle started to form in October 2011, following a drop from the August 2011 high of 73,590 yuan. The subsequent move upon the completion of the pattern will resume the preceding downtrend.
Resistance is at 56,260 yuan, a rise above which will extend to 57,000 yuan.
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, 2012
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