Markets
LME copper to surge to $7,850/T
SINGAPORE : LME copper will rise further to $7,850 per tonne, as it has completed an "a-b-c" corrective cycle on the fal
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A Fibonacci projection analysis reveals that the wave "c" has travelled roughly the same length as the wave "a", and the current sharp surge could be either labeled as a wave "x" or wave "E". A trendline descending from $8,280 points to an immediate target at $7,850, a rise above which will extend to $8,059.75, a high touched on Nov. 4. No information in this analysis should be considered as being business, financial or legal advice. 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 Copyright Reuters, 2011