Copper: Lower on the path of least resistance?

If you want to tie copper to the pace of growth in China, then you already have a case for why copper may struggle. But when you add the technical setup in, I think there is a pretty solid case for expecting copper to move lower.

On a daily chart, copper continues to push lower:

030714 copper daily.png

On a weekly chart, copper is rolling over. This supports the idea that copper prices are ingrained in a long-term bearish setup that still has notable downside before the pattern is completed:

030714 copper weekly.png

-JR

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