I last wrote about copper on May 9th
2012. Back then I was expecting a sharp decline in copper prices to 200
levels. As you can see from the previous
post, copper was forming a inverse head and shoulder pattern and I was expecting
it to break down from that pattern.
Instead of breaking down copper went into sideways move and
it took more than 2.5 years for copper to break down.
If we look at the current chart, copper monthly chart
resembles crude monthly chart to a large extent. Copper has also given a
massive break down from neck line. I expect sharp fall in copper in this year.
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