Markets
LME copper may revisit $10,747.50 this week
- The current assumption is that it may extend beyond this high.
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SINGAPORE: LME copper may revisit its May 10 high of $10,747.50 per tonne this week, as its uptrend may have resumed.
The trend observes closely a set of projection levels of the wave (3) from $62.69.
Compared with the preceding wave (1) and wave (3), the wave (5) looks too short to have completed at $10,747.50.
The current assumption is that it may extend beyond this high.
Support is at $10,029, a break below which could cause a fall into the $9,367-$9,733 range.
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