Near Term Trend: Bearish / Neutral
As of 3/16/18 close: 3.1125
UPDATE: Last week, I noted I would be buying dips in copper to 3.0465 with stops on a daily close below 3.04 and with an upside target of 4.14.
Copper futures are still holding up above support near 3.0465. However, it is not hard to imagine them slicing through that support at all. Given the lack of conviction here, Id just stay away from trading copper and simply observe the action as a tell on the global economy. Right now, it looks like things are OK / good on that front. Lets see if higher rates change that.