Potential Copper Reversal

Spot copper prices broke above the neckline of the inverse head and shoulders pattern that I highlighted last month, which, arguably, could have initiated the rally in the broader commodity space. Now, however, the industrial metal has met resistance at its 200 day moving average and formed an eveningstar pattern. This three candle pattern represents… Read More »

Copper – Channel Collapse Continues

Copper continues its textbook channel decline, returning again to the 62% retracement of the 2009 low and the 2011 high. This level was tested earlier in the year when it intersected with the channel support line, and a morningstar pattern formed sending price back up to retest the channel top. This time the retracement level… Read More »