Looking back we find copper price action is in a similar position to that of 2005. Overhead resistance above can give a rough estimate of a top should prices continue to break higher
The weekly MACD is almost too perfect. Suspicious maybe. Nonetheless, support is $4.00 and only a sustained break below would arrest this trend. Target above.
The best play on Copper is SCCO - southern copper corp - nice dividend payer. For the last year SCCO looked like it could be forming a bull flag after tagging the 1.618 extension level
The 2.618 level is still the target and judging by this breakout, Copper's probationary period might be over
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