Technical Forecast for Copper

Copper did break lower to target late 2011 lows of 299.40 as expected. Failure here risks a test of long term Fibonacci support at 295 today. We are getting very oversold so there is a good chance of a low for the day & possibly for the one month correction.

 

Resistance at 300.50-301.50 then 304.50/00 which could hold the topside.