SINGAPORE: LME copper could test a resistance at $9,261 a tonne this week, a break above which could lead to a gain to $9,514.

The metal found a support at $8,851, the 61.8% projection level of a downward wave c. This wave may either end around this level or extend to $8,188.

Regardless of the ending point, a decent bounce has been triggered, which could end anywhere below $9,924. A break below $8,851 could confirm the extension of the wave c towards $8,188.

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