Copper appears to be locked in a triangle formation bounded by a down trend line and an up trend line.
The most recently confirmed down trend line for Copper has an ending point currently at 325.25. Expect prices to have some difficulty rising above this trend line. A break above this trend line (particularly on heavy volume) would be a bullish sign.
The most recently confirmed up trend line for Copper has an ending point currently at 310.38. Expect prices to have some difficulty falling below this trend line.
A break below this trend line (particularly on heavy volume) would be a bearish sign.
Now what to expect??
Support at 319 and Resistance at 326
Break and sustain above 326 will take to 330--332 mark and then to 340+ mark else could test its support level of 319.
Three Consecutive close + weekly close below 319 will take it to 316--313--310 mark and then to 306 mark.
Further downside panic will below below 306.
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