Copper completes reversal

A head-and-shoulders top has been confirmed for copper, according to Andy Dodd, Head of Technical Research at Louis Capital Markets.

Dodd says the break below the neckline (in yellow on the Chart ) on Copper (HG1) confirmed a head-and-shoulders top and triggered a target of 332 in the medium term. He says to watch for the move lower stalling as it nears the 200-day moving average (in blue), but he is happy to be short for the time being.

See Chart.