JJC/Copper

Here's an interesting one, I'm going to give my thoughts and label the timeframes, but I desperately need 5 mins to get something to drink and powder my nose.

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This looks like a pullback is coming, there was a margin hike by the CME in copper. However, there appears to be a much longer term very positive base. I would watch for a pullback to the $40 area and we'll check it again to see if the long term hart is better or worse. My impression is a large accumulation period is going on and it is simply trading within a base right now.