Friday, January 24, 2014

Copper - Downside pressure is mounting.


Please see my last post regarding copper from December 27 here

Resistance at 3.45 did hold firm as I expected and we have seen the downside pressure Mount. I will be looking for a break below 3.12 to confirm a new test of strong support at 2.98, but if this support is broken too, then we should expect much lower levels (at least 2.64) over the coming months.

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