Copper Prices Seem to Be Positioning for a Significant Upswing
The price of copper appears to be building the foundation for another potentially significant advance, with the technical picture pointing to possibly higher prices, if the metal can overcome an important resistance level. The setup begins with a notable reversal in copper's recent price action. At the start of this month, the red metal briefly slipped beneath a trendline that had been drawn from its March low. A break below such a trendline can often signal that an established upward structure is losing momentum. In this case, however, copper quickly reclaimed the line, moving back above it just three sessions…