MARKET TALK: LME Copper Faces Resistance, Selling Likely

LME 3-month copper at $6,935/ton, down $35 on London PM kerb; Hong Kong-based trader says it fails to strongly test resistance at $7,000, speculative selling likely to emerge for push down to $6,750-$6,800 before range trade resumes. Adds, downside likely limited short-term as gold, oil providing support to copper, base metal complex. "With gold seeming to hold above $600/oz and oil showing signs of stemming the (recent) fallout, the commodities basket (should) tend to hold steady."