HGK10 – May Copper (Last:3.4030)

The price of copper jumped on Sunday night in response to the earthquake news from Chile, leaving a large gap that was filled on Tuesday with one tick to spare.  From there it rallied back toward the Sunday high, without pausing at the midpoint of the emerging pattern.  The D target of 3.6110, entailed by the midpoint breach, would be a level not seen since August 2008.