mar Copper

March Copper has been consolidating since mid October.  It has seen higher lows and lower highs on the weekly chart with some significant support and resistance trendlines with 5 to 8 touches.  Currently, we are above the 10, 20, 50, and 100 WMA heading into mid week.  It will be interesting to see if Copper finally breaks through the downward sloping resistance lines or through the upward sloping support lines.  I'd say there are more clues pointing to possible upside breakout as it's in a seasonally strong period, housing data has been strong, and the daily chart has been showing higher highs and higher lows.  We have the Fed tomorrow and unemployment on Friday.  This could be an interesting finish to the week in Copper.