I doubt that one needs to be reminded that Doc Copper remains in a downtrend, creating lower highs and lower lows since it highs back in 2011. This down trend finds itself facing what could be a critical short-term test of support at this time.

(Click on image to enlarge)

Since 2011, almost every time Copper has moved above its 200MA line, it ended up being much closer to a high than a low!

Over the past 12-months, Copper has created a narrowing pennant pattern, inside of its 5-year falling channel.

Copper has created a series of lower highs at (2) and has created a series of higher lows at (3).

Since Doc Copper remains inside of a 5-year down trend and the pennant pattern is near completion, the next step it takes, could be a very important one for this asset.