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SINGAPORE: LME copper looks neutral in a range of $8,708 to $9,030 a tonne, and a breakout could suggest a direction. A break above $9,030 could lead to an increase to the $9,229-$9,551 range.
However, the bias could be to the downside, as the metal has broken an uptrend line.
The break signals a reversal of the advance from $6,955.
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Copper eases again on growth concern ahead of jobs data
The current consolidation is considered a retracement of the trend.
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A break below $8,708 would open the way towards the $8,188-$8,510 range.
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