Copper has now given back most of the China and Obama stimulus enduced rallly. A break below 148 (todays low) could open up for a move back towards the January low at 139.20. Only word of caution is that the LME Copper still has some way to go yet before support gets broken 3220 (currently 3280).
The reason behind the ongoing slump is continued build in stockpiles combined with the deepening global economic crisis. Copper is a good economic activity indicator and therefore worth keeping a close eye on.
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