The rally in copper since early last week has spent more than twelve hours bumping up against the midpoint of a pattern which is a thing of beauty.  The pivot, at 3.4848, was surpassed by exactly one eighth of a cent on the first try and has repelled three very close approaches since then.  We don’t know whether the prohibition against “sloppy seconds” applies to shorting this midpoint, which is a tantalizing possibility as we write.  An alternative would be to look on an intraday chart such as the 10-minute for a camouflaged entry on the long side.  The series of slightly lower highs could easily give rise to such an opportunity, and a ride up to the sibling “D” target at 3.6135 would be lucrative.  Note that in the attached graphic the prices are denominated in cents per pound.  (Posted by Doug McLagan)