Just like the recently reviewed Brent oil price, copper is being looked at due to the recent surge in volume of trading of the metal.
Almost a month ago the price of copper was going higher without anything suggesting that a decline might soon begin. That remained the case until the commodity price encountered the 3.25 mark. Afterwards a decline began, which has resulted in a channel down pattern.
The channel down is set to guide copper lower until the commodity encounters the support line of the more dominant channel up pattern somewhere near the 3.10 level.
Almost a month ago the price of copper was going higher without anything suggesting that a decline might soon begin. That remained the case until the commodity price encountered the 3.25 mark. Afterwards a decline began, which has resulted in a channel down pattern.
The channel down is set to guide copper lower until the commodity encounters the support line of the more dominant channel up pattern somewhere near the 3.10 level.
