Copper CMP is 8735, is showing sign of forming Symmetrical Triangle Pattern and is reverting from the rising trend line after testing the same at 8700. If this rising trend ling is holding then will enter in wave E which will rise to test the higher falling trend line, which is expect to test at 9750 - 9800 around and once this higher trend line is crossed then will give a breakout. Expected target after the breakout above the level of 9800 will be the difference of the height of the triangle i.e. wave A which comes to 2100 points from breakout. Calculating the target from breakout point of 9800 comes to 11900* on higher side in Medium to long term. Minor correction can be expected on the upside rally.
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