Copper is one of the most important tradable base metals. The price of copper topped at the second quarter of 2006 after going extremely parabolic and registering an all time high. I have warned about that extreme situation at least two times.
Copper Futures , Comex : HG & Wednesday, May 31, 2006
Copper HG COMEX Futures
One of the most important indicators for the price of copper is the LME stocks levels which seems to bottom and are up more then 100% since mid 2006.
Currently Copper is oversold and I would like to suggest 220 and 190 as important price levels, on the 50 years chart the 145 seems to be the most important price level.