SINGAPORE: LME copper may retest a support at $6,167 per tonne this week, a break below which could cause a loss into $5,934-$6,063 range.

The support is provided by the 50 percent retracement on the uptrend from $5,725 to $6,608.50. The bounce triggered by the support at $6,167 is regarded as a pullback towards the resistance at $6,271.

Based on the consolidation range from $6,295 to $6,555.50, the metal is expected to fall to $6,063. A break above $6,295 may lead to a gain limited to $6,400.