Markets

LME copper may end fall in $8,776-$8,951 range

  • Resistance is at $9,367, a break above could lead to a gain to $9,733.
Published June 21, 2021

SINGAPORE: LME copper may end the current fall in a support zone of $8,776 to $8,951 per tonne this week, as suggested by its wave pattern and a rising trendline.

This zone falls within the range of a wave (4), which started at Feb. 25 high of $9,617 and ended at the April 1 low of $8,695. The trendline establishes a support around $8,776 as well.

Resistance is at $9,367, a break above could lead to a gain to $9,733.

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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