The copper chart's tricky to read where the bottom of the current price channel that its heading for is situated. The 3 tops are not very well aligned so its difficult to be certain of the width of the channels its using.
I don't have a 10 year chart or longer. On a five year chart, it looks to have broken down (after three goes at trying to break up out of its old channel) when it crossed down out of that channel of the last 5 years+ at $3.10-$3.20.
I'd put the most likely bottom of the new channel at about $1.90 (previously I was actually thinking $2.10), but as I'm uncertain about where the top of the old channel is, I don't know for sure. Working off the first spike in March 06 it could (though very unlikely) be as low as $1.20 or it could even be false breaking below the channel a little to ultimately generate a bounce.
