Major long term bearish head and shoulders has a target around 1.5. Note: what i dont like about this pattern, is that it doesn't follow well the relativity concept, i mean the pattern is more than 50 percent bigger than the prior trend, in terms of amplitude and time.
Also looks like the head and shoulders bottom others have been touting had a false break of the neckline. I'm short copper again too.
sushi816
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Do you think this is going to spill over into the other metals silver gold ?
Technician
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No not necessarily, as copper is sensitive to growth concerns(especiialy in china) and risk-off sentiment
TrendTraderz
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Although I agree with you on sentiment, I wouldn't let the numbers coming out of China fool you. China is hovering around 7% growth, but that is 7% of an economy that is double the size it was in 2007. China is still moving along strong.
Technician
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Thanks @Trend Traderz for your feedback. I primarily base my view on technical analysis, and also there are rough ideas, when i want to trade it i wait for lots of confirmations.