Shanghai copper to fall to 52,600 yuan/T

SINGAPORE: Shanghai copper will fall to 52,600 yuan per tonne, as indicated by its wave pattern and a Fibonacci projection analysis.

The current fall from the Nov. 14 high has been relabeled as a downward wave "c", advancing towards the 100 percent Fibonacci projection level, based on the length of the wave "a" and the peak of the wave "b" at 58,780 yuan.

A fall below 52,600 yuan will clear the way to the Oct. 21 low of 50,760 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.