Near Term Trend: Bearish / Neutral
As of 2/16/18 close: $3.2385
UPDATE: I suggested buying dips in copper to 2.943 with stops below 2.94 and with an upside target of 3.86.
Copper futures appear to me to have become a play thing of the global macro crowd. When they want to be risk on, they load up on copper futures to get as much bang for their buck as possibly patterns be damned. Im thinking risk on will change to risk off now, though.
I would short copper here with stops above 3.2575 on a close and with a target of 2.9430.