FXStreet reports that Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, notes that copper (LME) topped out at 9617.00 in February and is expected to tumble back towards the 8500.00-region. 

“A gradual slide back towards the 8500.00-region is to ensue over the coming weeks, provided that 9617.00 isn’t overcome. Further potential support comes in between the December and January high, 55-day moving average and the six month support line at 8238.00/8028.00. This we would expect to hold.” 

“Only a currently unexpected rise above the 9617.00 recent high would engage the February and August 2011 highs at 9905.00/10190.00.”