COPPER

Once again copper is at that critical support. The more price tests an important support level the higher the probability of it breaking down. This is the case on copper price chart. 3 levels have been tested several times over the past 3 years. Commodities have been weak but copper held well above major support. Decisive close below 2.90-2.95 area will confirm breakdown from the descending triangle. Outlook for copper is negative.