Copper’s downtrend intact

London
Copper has paused after hefty losses in the last few months on uncertainty over all-important Chinese demand, but analysts who study past price patterns to forecast future direction say the metal is on track to lurch lower.Lows last seen in 2009 may be brought into view if prices decisively breach the psychological $4,400 level, causing further anxiety for major mining companies.
Benchmark copper on the London Metal Exchange hit $4,443.50 a tonne this week, a loss of 30 percent since the 2015 high of $6,481 in May. It was around $4,550 on Wednesday.
Escalating worries about weaker demand growth in China, which accounts for nearly half of global consumption estimated at around 23 million tonnes, helped push copper below the crucial $4,500 on Monday. "The trend on the downside is very well established.