The copper futures have been working their way lower for four days and have traced out a robust pattern with two well-hidden pivots. The midpoint of the pattern, at 3.3650, is far enough above Friday’s low (our ‘B’ point) to be a potential buy. If the midpoint doesn’t hold then ‘B’ probably won’t either, and the 3.3240 ‘D’ target will be next. The only way this ‘D’ target could be more hidden is if we weren’t talking about it here on the site. (Posted by Doug “harry” McLagan)
