LME copper (MCU3=LX) may retest support at $13,111 per metric ton this week, a break below which could open the way toward $12,362-$12,776 range.
The bounce triggered by the support is classified as a pullback toward a bearish wedge, which indicates a target of $12,776.
A break above $13,445 may lead to a gain to $13,859.
* The copper report is published weekly on Monday.
** Wang Tao is a Reuters market analyst for commodities and energy technicals. The views expressed are his own. His analyses are published exclusively on LSEG Workspace.
No information in this analysis should be considered as being business, financial, or legal advice. 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.