SINGAPORE: LME copper is biased to break a resistance at $8,583 this week, and rise to $8,782 per tonne.
The metal failed twice to overcome this barrier.
However, it is approaching this level again.
Generally, a resistance or support is likely to be broken under the third attack.
Copper set for first yearly fall since 2018 on slowdown woes
A drop below the Dec. 30, 2022 low of $8,357 would be bearish.
A further fall below $8,261 could be extended into $7,902-$8,062 range.
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