Copper : Confirmed Weekly Sell

• Front contract Mar12 closed at 371.80 (May12 372.35). A few interesting observations (based on front month continuation chart) :=
• 1. Most recent 4 (strictly speaking should only be 3) candlesticks = evening star = uptrend reversal = sell.
• 2. Uneven double top neckline at 384.75. This week's weak close back below makes the neckline penetration a false buy signal = sell.
• 3. A significant previous top at 375 is reclaimed, so should now go back to previous congestion area between 325 and 375 = sell.
• All 3 support being short. Normally I would pile into this in a big way, but after recent repeated beatings, I need to trade cautiously. Shorting May12 at 375.70 on Thurs night was badly timed. Once filled, we almost didn't look back at all until last night's high of 383.95 was made. I suppose I ought to be thankful for its ability to put in a daily reversal to close on the low side at 372.35 (day low 370.25). Still, cannot help but feel stupid at poor entry.
• Current downside objective is long term TL support at 322.