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Copper Bull Market Is Undamaged, Sarin Says: Technical Analysis

Copper’s bull market is intact and the three-month contract on the London Metal Exchange may rally to an all-time high should an initial target price be surpassed, according to a technical analysis from Barclays Capital.

“The bull trend remains undamaged,” Dhiren Sarin, Asian chief technical strategist, said in an interview. The price may gain to $9,945 per metric ton in the next three months and, if that’s broken, it may climb to $10,300, Sarin said. Copper’s record is $10,190, set Feb. 15, and it traded at $9,147 today.