COMEX:HGU2012 COPPER FUTURES (SEP 2012)
Copper price action is showing inversed Head and Shoulder pattern with a successful break out above resistance neckline. The price is sitting just inside upper BB level and indicator is reaching overbought level. Support on the downside is located at 3. 40 , the neckline level, which is also 20 and 50 period level. Alternatively resistance on the upside could be located at 3.57 which is 200 Day .