If the saying “so goes copper, so goes the global economy” is true, what ole Doc Copper does from current levels will send an important message to global markets.

Copper has spent the majority of the past two decades inside of bullish rising channel (1), as it has created higher lows and higher highs.

Since the 2011 highs, the metal has spent a good deal of time creating lower highs and lower lows.

This downward price action has copper trying to break below its 20-year rising channel.

Copper has created a horizontal support line at the $2.50 level over the past few years.

Doc Copper is once again testing key support this week at (2). What copper does at the $2.50 zone could well send an important message to global markets.

Doc Copper Is Trying To Break 20-Year Rising Support

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.