Hearing a lot of profit taking has recently occurred in copper. It's been stalled the past couple of weeks but on very heavy volume. Although it's due for a correction, it's tough to justify taking a short position. Below is the CME HG continuous contract on a weekly.
Copper retreated a little bit on some China demand concerns. That's nothing compared to this Chile mining strike continuing. I'd be careful going into the weekend with this strike continuing. We could get a significant gap up next week if it's not resolved. But there's also the chance (doesn't look likely right now) that they come to an agreement. In that case we'll probably see a gap down. I'm not holding copper but if I were I'd be long.