The already down-trending daily copper futures lost another support level last week and this morning is threatening a last ditch level.
The weekly chart advises just how “last ditch” that level is. It’s the neckline to a really bogus looking pattern.
The pattern above measures to about 1.70, but the monthly chart advises a trend line that could halt the decline as well. A lot may depend on when the US Fed joins its central banking cohorts and the group of them combine to blow the lid off this deflating situation by panicking to a full blown inflation operation.
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