On speculation that a broadening Chinese slowdown could devastate commodity prices, I’ve reproduced September Copper’s weekly chart.  Price action precisely at and around the p midpoint (red line) implies not only that we are using the right pattern to produce an accurate and reliable target at 2.7780, but that the futures have crossed the point of no return on their way down to it. If the global recession is about to deepen, we should see 2.7780 give way within days of first being touched.  However, a strong bounce from very near that number would imply that the world’s economy is not necessarily about to deep-six.