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LME copper may retest resistance $8,098 this week

  • A break below $7,910 could cause a fall into $7,729-$7,820 range.
Published January 25, 2021

SINGAPORE: LME copper may retest a resistance at $8,098 per tonne this week, a break above could open the way towards $8,202-$8,313 range.

The correction triggered by the resistance at $8,202 seems to have been shaped into a small triangle, which is highly likely to turn out to be a bullish continuation pattern.

A break below $7,910 could cause a fall into $7,729-$7,820 range.

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.

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