SINGAPORE: LME copper looks neutral in a range of $9,265-$9,674 per tonne, and an escape could suggest a direction.
Wave pattern indicates the progress of a wave (5), which may travel towards $10,747.50, however, the consolidation within the neutral range takes such a long time that the bias looks towards the downside.
A break above $9,674 could lead to a gain into a range of $9,879-$10,084, while a break below $9,265 could open the way towards $9,011.
Copper report is published weekly on Monday.
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.