COPPER - No big move expected, but downside risks remain

Copper is currently doing little, trading near 2.310. Although there is one ST support in and around 2.3, the odds of a dip to 2.25-2.27 remain decent, and a stronger correction to nearer 2.23-2.24 would be of little surprise. With 2.38-2.40 looking like a hefty barrier near term, and knee-jerk higher today should offer a good shorting opportunity, albeit quite possible 2.32 holds firm for now, resulting in either a late day fall or a tumble - or gap down early on Monday.