SINGAPORE: LME copper may retest a resistance at $9,789 per tonne this week, a break above which could lead to a gain to $9,991.
The metal is riding on a wave (c) from $9,135, which is expected to travel to $10,193.
The resistance at $9,789 triggered a shallow correction which seems to have ended around a support at $9,539.
The white candlestick on Jan. 7 suggests a continuation of the wave (c) towards $9,789.
A break below $9,539 could cause a fall to $9,385.
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