Yes, Copper has been a disastrous commodity, largely because it is closely linked to the health of the Chinese economy.
Let's notice on the enclosed daily chart that Copper has been in a period of relative stability between 2.00 and 2.25 for the past 10 months, which represents either a sideways, bearish continuation pattern within the confines of the dominant intermediate-term bear trend—ahead of another downleg, or a multi-month base formation that will challenge key resistance at 2.27-2.32 and break out to the upside into a powerful recovery rally.
It is interesting that 10-Year Yield has climbed above its 2016 resistance line at 1.62%, perhaps reflecting growing perceptions that the U.S. economy and the Chinese economy are in better condition than most people realize, which also is reflected in the lift in Copper prices.
