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LME copper may revisit July 13 high of $6,633 this week

  • The correction has been driven by a wave 4, the fourth wave of a five-wave cycle from $5,146.
Published August 17, 2020

SINGAPORE: LME copper may revisit its July 13 high of $6,633 per tonne this week, as a correction from this level may have completed.

The correction has been driven by a wave 4, the fourth wave of a five-wave cycle from $5,146.

The wave 5 has started, following the two failures of the metal to break a support at $6,244, the 61.8pc projection level of an upward wave (C) from $4,371.

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