Copper chart analysis

Let's have a look at this long-term (monthly) chart of copper prices:
1) Impressive downtrend of copper price since early 2008
2) Price touched a bottom at 130$ at the end of 2008
3) 130$ was interestingly enough the resistance level during the previous 20 years.
4) Price has now bounced back and is currently at 207$

Now let's close up to the weekly chart:

1) We can clearly see that the trendline has been broken early March at the price of 170$
2) Next resistance level is around 310-320$

Now let's examine the daily chart:


1) next buy trigger is at 220$
2) to invest in copper, you can focus on copper mining companies such as Freeport McMoran (ticker: FCX), listed on the New York Stock Exchange (see chart below), or on countries whose economy largely depends on copper mining such as Chile (see my previous post on ECH, the ETF that is tracking the Chilean stock market index).