Copper

Copper is currently sitting in a monthly range between $2.300 and $2.000 and forming a bearish consolidation pattern following the sell off from 2015 highs at $2.940 formed back in May. Price is sitting below two multi-year bearish trend lines and holding the low of $1.936 set in January 2016. Possible scenario here is a break of the wedge to the downside below $2.00 which would offer an opportunity short on a retracement back to the zone of $2.00-$1.935. For now we wait and watch