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Copper retest 5/3/2013
Copper price achieved 3.4400 in yesterday’s trading to hit the initial suggested target level in our previous report, we notice that there is a formation of a correctional wave that makes the price able to retest the broken level near 3.5000
The stability below 3.5600 makes us continue in our negative expectation to achieve 3.3400 as an initial target against the negative bias.
Expected trading range is between 3.5600 and 3.3400
Expected trend: bearish
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