Shanghai copper will fall to CNY 54,070 per tonne as it has bounced off the upper trend line of a triangle and is heading toward the lower trend line of the pattern.

The triangle started to form in October 2011, following a drop from the August 2011 high of CNY 73,590. The subsequent move upon the completion of the pattern will resume the preceding downtrend.

Resistance is at CNY 56,260 a rise above which will extend to CNY 57,000.

(Sourced from Reuters)