Positive outlook for copper seems to be on the horizon. See...

Positive outlook for copper seems to be on the horizon. See below technical analysis from RBS Morgans

Copper
The down trend from the September 2012 high has lost momentum over the past three months and the price has been trading sideways, fluctuating between US$2.98 and US$3.42. The long term down trend line and the bear market resistance on the leading RSI indicator has been broken recently, suggesting that higher price levels are likely to unfold over the medium term. The first potential upside target is US$3.42, however once this level of resistance is broken upwards(which in our view is likely) much higher price levels are likely to unfold over the long term.