![](https://4.bp.blogspot.com/-QeUd5mAGyM4/VJeb7PZkeZI/AAAAAAAAS0U/Xjg37DORjGMp4lJESvOYys-vjEzNPeoNQCPcB/s1600-rw/Copper%2BPIPE.jpg)
![](https://1.bp.blogspot.com/-VNC-gPEcjoE/WRBt3O9A8mI/AAAAAAAAVN8/F-Q64BklqJo9HtdqOTbqv14qTtNad5p0wCLcB/s1600-rw/chart.png)
Copper found resistance at the upper end of the Downward Sloping Channel and has seen a sharp fall thereafter. It is hovering around the medium-term support line. The bulls are likely to gain momentum if it manages to sustain above 2.55. On the upside, 2.57- 2.60 will act as a resistance in the near term. On the way down, the bears will be back in action if it closes below 2.49. It can drift lower towards 2.47-2.44, if it closes below 2.49. The momentum indicator has turned negative.