Copper is at 3.20 now. Do you really think it can lose $3 and go down to 20 cents? (Honest question, not being a wise guy)
http://market-ticker.org/akcs-www?post=219866&findnew#new
Better technical explanation than I can furnish. It’s headed there, whether it breaks $3, dunno.
What could take it there? There is a tremendous amount of NON-recognition of the financial condition of the world and an overestimation, IMO, of the world’s growth prospects. I also believe there is a lot of oversupply. Technically, the channel break is ominous.