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MARKET TALK: Copper May Face Fresh Selling Below $6,850

Friday, Dec 08, 2006
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Copper may face fresh selling if next support at $6,850/ton doesn't hold, as funds increasing short positions on Comex, fundamentals weaker from start of month; break below could tip direction clearly downwards, says Tokyo-based trader. LME 3-month copper last at $6,900/ton, +$10 on London PM kerb. Trader pegs resistance at $6,940-$6,950.

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