uly Copper closed down 4.10 at 410.85. This was 5.75 up from the low and 0.30 off the high.
Technical Outlook
COMEX COPPER (JUL) 06/09/2011: A bearish signal was triggered on a crossover down in the daily stochastics. Momentum studies trending lower at mid-range could accelerate a price break if support levels are broken.
The market's short-term trend is negative as the close remains below the 9-day moving average. The market setup is somewhat negative with the close under the 1st swing support.
The next downside target is 400.13. The next area of resistance is around 416.75 and 421.72, while 1st support hits today at 405.95 and below there at 400.13.
