On the daily chart, the contract managed to close above a resistance at 4,026 ringgit for three days. It has escaped from a consolidation range of 3,856-4,026 ringgit, which suggests a target of 4,400 ringgit.
The most-traded June copper contract on the Shanghai Futures Exchange fell 0.9% to 71,660 yuan ($11,076.76) a tonne, after touching a 10-year peak of 73,060 yuan earlier in the session.
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.
On the daily chart, following its failure to overcome a barrier at $1,799, the metal broke a support at $1,775. The break opened the way towards $1,723-$1,752 range.