Copper reversed before reaching a bearish D target on the 30-minute chart, and above an important prior low. In the process of rebounding, a new bullish pattern emerged whose midpoint has been surpassed. The sibling D target is at 3.4440. A breach of this level would suggest that the 3.6110 target, first mentioned here on March 4, remains in play. Traders should look for a smaller pattern to provide a camouflaged buying opportunity. (Posted by Doug McLagan) _______ UPDATE (03:00 p.m. EST): We viewed the copper chart as bullish, and although the 3.4440 target was reached, that’s as far as it went. Sellers slammed the market from an eyelash above the pivot, quickly shaving more than $2,000 off the value of each contract.