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Copper settles below the support 6/3/2013
Copper attempted to breach above the broken support level at 3.500 in yesterday’s trading as appears in the chart, to settle with a daily close below the support level.
We remain in expecting the negativity in the recent period if the price settled generally below 3.5600 to achieve 3.4400 followed 3.3400 and supported by Stochastic stability in negative level around 20 level.
Expected trading range is between 3.5600 and 3.3400
Expected trend: bearish
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