cu next resistance level

(Kitco News) -- LME copper finished September with an 18.5% gain and is starting out October with a favorable technical picture with the next resistance around $8,500 a metric ton, says MF Global analyst Edward Meir. ?Copper is at $8141, and in the midst of breaking out on the charts now that it is likely going to close solidly above the $8,043 mark (the prior 2010 high) for two consecutive days,? he says. ?Where the current run will take us is anyone's guess, but charts seem to indicate that we could get to $8,500. Other metals are also higher, with tin hitting a new record, while nickel is revisiting the highs seen this past spring.? Another close above $8,043 could set the metal up for further gains, Meir adds. A key Friday will be the Institute for Supply Management?s manufacturing survey scheduled for release around mid-morning, he adds.