Head-and-shoulders pattern in daily copper chart

We can see a pattern head-and-shoulders on the daily chart of copper. This pattern often show that the price cannot continue to go to the previous direction and we must reverse the trend. In this chart we can see that copper was not able to rise above the level of "head" ($ 10,160) and stalled at the level of "shoulders" ($ 9,784). The green line shows the target ($ 8,066) where you will break below neckline ($ 9,114). This is derived by subtracting the amount in the pattern of the lower level. The technical analysis shows that the copper in the short term, even if the industrial metal seems attractive. Click image to enlarge to a full-size screenshot:

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